Quotation of the Day…

by Don Boudreaux on September 6, 2013

in Intervention, Property Rights, Regulation

… is from page 291 of Tom Bethell’s important 1998 book, The Noblest Triumph:

Nationalization has been discredited, but it has been replaced by a more insidious philosophy.  The owner retains title, but is saddled with taxes, impositions, and regulations that might in some cases have seemed excessive to feudal tenants.  Contract is here and their yielding it crucial gains to status.  Individual rights are threatened by the privileges associated with group membership.

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