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Technology can be defined as knowledge or information which tell us how an end can be achieved by the employment of combinations of various means. Or more simply technology consists of ideas on how to produce things. Technology should be distinguished from the physical form, such a produced good, which embodies the technological idea.
- ↑ Ludwig von Mises. "Human Action", 2010, page 208.
- ↑ 2.0 2.1 Shapiro, Milton. "Foundations of the Market-Price System", 2007, page 63-64.