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Quotation of the Day…

Posted By Don Boudreaux On May 2, 2012 @ 8:04 am In Other People's Money,Politics,Reality Is Not Optional | Comments Disabled

… is from page 290 of Harold Demsetz’s vital 1989 collection Efficiency, Competition, and Policy [1]:

Political machinery … is more admirably suited to the task of redistributing wealth among those now alive.  In the provision of collective goods government can make only the roughest guesses as to proper objectives and how to accomplish these, especially when concerned with the distant future.  Goals and methods are much clearer when it comes to near-term wealth redistribution.

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[1] Efficiency, Competition, and Policy: http://www.amazon.com/Efficiency-Competition-Organization-Economic-Activity/dp/1557862966/ref=sr_1_1?s=books&ie=UTF8&qid=1335960241&sr=1-1

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