Quotation of the Day…

by Don Boudreaux on September 30, 2011

in Cooperation, Reality Is Not Optional

… is from page 17 of the indispensable Harold Demsetz’s 1988 collection Ownership, Control, and the Firm:

Restricting one’s freedom to use pecuniary wealth to influence others, say by offering higher prices to win agreements to sell, results in greater emphasis on “personal characteristics competition.”

Ponder carefully this indisputable reality.


30 comments    Share Share    Print    Email

Previous post:

Next post: