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Often people who do not wish to bear risks feel entitled to rewards from those who do and win; yet these same people do not feel obligated to help out by sharing the losses of those who bear risks and lose
 
Nozick, Robert
Anarchy, State, and Utopia
1974 , p. 256

 

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Catallaxy ® Institute - c/o GFI Treuhand, via Maistra 7, 7500 St. Moritz (CH) - login - © 2010

"A catallaxy is thus the special kind of spontaneous order produced by the market through people acting within the rules of the law of property, tort and contract".F. A. von Hayek, Law Legislation and Liberty (London, 1982), Vol. 2 (1976), pp. 108-109.