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Quotation of the Day…

… is from page 303 of 2006 Nobel laureate Edmund Phelps’s 2013 book, Mass Flourishing: How Grassroots Innovation Created Jobs, Challenge, and Change:​

There are plenty of economies in human history that offer more stability and equality than any modern economy ever did. But observation over modern history does not turn up alternatives to the modern economy that deliver less inequality and less instability while delivering no less of the good life.