≡ Menu

Quotation of the Day…

… is from page 201 of Walter Lippmann’s at-times-brilliant and at-times-maddening 1937 book, The Good Society:

Instead of the classical economics being an apologetic explanation of the existing order, it is, when properly understood, a searching criticism of that order.

Yes.  Adam Smith & Co. masterfully busted many myths (mostly mercantilist) that were used to reinforce the power and privilege of elites at the expense of ordinary people.