- Cafe Hayek - http://cafehayek.com -

Quotation of the Day…

Posted By Don Boudreaux On May 6, 2012 @ 7:42 am In Adam Smith,Economics | Comments Disabled

… is from James M. Buchanan [1] writing in 1980 (in his article entitled “Rent Seeking and Profit Seeking”); Buchanan is here quoted on page 17 of the first (1981) edition of Robert B. Ekelund, Jr. and Robert D. Tollison, Mercantilism as a Rent-Seeking Society [2]:

But let us be honest.  How much more do we know about market process than Adam Smith knew that is of practical relevance?

(The much-revised, 1997 edition of the Ekelund-Tollison study on mercantilism and rent-seeking is available here [3].)

Be Sociable, Share!
  • [4]
  • [5]
  • [6]
  • [7]
  • [8]

Comments

comments


Article printed from Cafe Hayek: http://cafehayek.com

URL to article: http://cafehayek.com/2012/05/quotation-of-the-day-281.html

URLs in this post:

[1] James M. Buchanan: http://www.econlib.org/library/Enc/bios/Buchanan.html

[2] Mercantilism as a Rent-Seeking Society: http://www.amazon.com/Mercantilism-Rent-Seeking-Society-Regulation-Perspective/dp/0890961204/ref=sr_1_2?s=books&ie=UTF8&qid=1336304341&sr=1-2

[3] here: http://www.amazon.com/Politicized-Economies-Mercantilism-University-Economics/dp/0890967458/ref=sr_1_1?s=books&ie=UTF8&qid=1336304341&sr=1-1

[4]

  • : http://twitter.com/intent/tweet?text=Quotation%20of%20the%20Day...%20-%20http%3A%2F%2Fcafehayek.com%2F2012%2F05%2Fquotation-of-the-day-281.html%20

    [5]

  • : https://mail.google.com/mail/?view=cm&fs=1&to&su=Quotation%20of%20the%20Day...&body=http%3A%2F%2Fcafehayek.com%2F2012%2F05%2Fquotation-of-the-day-281.html&ui=2&tf=1&shva=1

    [6]

  • : http://www.stumbleupon.com/submit?url=http%3A%2F%2Fcafehayek.com%2F2012%2F05%2Fquotation-of-the-day-281.html&title=Quotation%20of%20the%20Day...

    [7]

  • : http://www.google.com/reader/link?url=http%3A%2F%2Fcafehayek.com%2F2012%2F05%2Fquotation-of-the-day-281.html&title=Quotation%20of%20the%20Day...&srcURL=http%3A%2F%2Fcafehayek.com%2F2012%2F05%2Fquotation-of-the-day-281.html&srcTitle=Cafe+Hayek+where+orders+emerge

    [8] Image: http://www.blinklist.com/index.php?Action=Blink/addblink.php&Url=http%3A%2F%2Fcafehayek.com%2F2012%2F05%2Fquotation-of-the-day-281.html&Title=Quotation%20of%20the%20Day...

    [9]

  • : http://www.myspace.com/Modules/PostTo/Pages/?u=http%3A%2F%2Fcafehayek.com%2F2012%2F05%2Fquotation-of-the-day-281.html&t=Quotation%20of%20the%20Day...

    [10]

  • : http://reddit.com/submit?url=http%3A%2F%2Fcafehayek.com%2F2012%2F05%2Fquotation-of-the-day-281.html&title=Quotation%20of%20the%20Day...

    [11]

  • : http://news.ycombinator.com/submitlink?u=http%3A%2F%2Fcafehayek.com%2F2012%2F05%2Fquotation-of-the-day-281.html&t=Quotation%20of%20the%20Day...

    [12]

  • : http://sphinn.com/index.php?c=post&m=submit&link=http%3A%2F%2Fcafehayek.com%2F2012%2F05%2Fquotation-of-the-day-281.html

    [13] Tweet: https://twitter.com/share

  • Copyright © 2011 CafeHayek.com. All rights reserved.