Quotation of the Day…

by Don Boudreaux on June 18, 2012

in Economics

… is from page 31 of Volume 1 (2004) – The Virtues of Capitalism – of The Collected Works of Arthur Seldon:

The decisive contrast is that in state economy the consumer takes what the machine produces; in private enterprise the machine produces what the consumer wants.  No amount of qualification for poverty, monopoly, advertising, gullibility or irresponsibility in the economies based on private enterprise destroys the ultimate contrast.


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