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

Quotation of the Day…

Tweet [1]

… is from page 313 of the 1977 reprint [2] of Ludwig Lachmann’s deeply profound 1956 essay “The Market Economy and the Distribution of Wealth [3]“:

The market process is thus seen to be a leveling process.  In a market economy a process of redistribution of wealth is taking place all the time before which those outwardly similar processes which modern politicians are in the habit of instituting, pale into comparative insignificance….