Quotation of the Day…

by Don Boudreaux on October 30, 2013

in Seen and Unseen

… is from page 151 of Yale Law professor Jonathan Macey’s 1992 article “Some Causes and Consequences of the Bifurcated Treatment of Economic Rights and ‘Other’ Rights Under the United States Constitution,” reprinted in the excellent 1992 collection Economic Rights (Ellen Frankel Paul, Fred D. Miller, Jr., and Jeffrey Paul, eds.):

Thus individual decisions in a market setting have tangible consequences for the decision-maker.  Individual decisions outside of the market setting do not.  In a society in which economic liberties are not respected, fewer economic decisions will be made, and individuals will be deprived of any context in which they can make meaningful decisions about their lives.  In such an environment, the quality of noneconomic decision-making is bound to suffer.

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