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Quotation of the Day…

is from page 150 of Gerard Casey’s review of GMU Econ alum Edward Stringham’s 2015 book, Private Governance: Creating Order in Economic and Social Life:

The trouble with centralism is not just that it fails to solve all our problems but that, apart from creating the illusion that all problems are soluble (and often imposing astonishingly high costs on its alleged beneficiaries), it either hampers or crowds out private-governance strategies that actually do work.