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Quotation of the Day…

… is from page 8 of Aaron Director‘s 1964 article in the Journal of Law & Economics, “The Parity of the Economic Market Place”:

The short period of liberalism has been accompanied by as much material progress as took place in all prior times.  But the evidence has not been persuasive.  It is always easy to contrast the observed deficiencies with the unknown advantages.  And cognizance of deficiencies tends – rightly – to grow with material progress.