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Quotation of the Day…

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… is from page 126 of Julian Simon’s posthumously published 1999 book Hoodwinking the Nation [2]:

The more competition in the news marketplace the better.  The greater the number of firms competing, the more it will be profitable for at least a few of the many competitors to show how others are scandalously misinforming the public; muckraking the false muckrakers can be exciting news, too.

This past Sunday, Julian (1932-1998) would have turned 80.  His idea of – his explanation of – his researches into – the fact that the human mind is the ultimate resource [3] remains one of the greatest economic insights that has yet to be remotely fully appreciated for the enormous explanatory insight that it contains.  Its day will come.