Bonus Quotation of the Day…

by Don Boudreaux on August 11, 2016

in Competition, Creative destruction, Inequality

… is from page 80 of the 1990 Transaction Publishers reprint of W.H. Hutt‘s 1936 volume, Economists and the Public:

Because of its non-discriminatory nature and its opposition to privilege, competitive capitalism is essentially an equalitarian force.

(See also the late Ludwig Lachmann’s insightful essay “The Market Economy and the Distribution of Wealth.”)


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