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Quotation of the Day…

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… is from page 63 of John Mueller’s outstanding 1999 book Capitalism, Democracy, and Ralph’s Pretty Good Grocery [2]:

From the perspective of the intellectual, then, people in business may appear small-minded, crass, menial, and even stupid – though typically they will understand their business in greater depth and finer nuance than the average intellectual will ever understand anything.

Yep – although it’s wise to add that to understand one’s business is not (contrary to much popular misconception) simultaneously to understand adequately the workings or the logic of the larger economy of which that business is a part.  The average intellectual, alas, understands neither the complex of details and trade-offs regularly involved in running businesses (or even in the making of everyday household decisions by families other than his or her own) nor the workings or the logic of the larger economy.

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