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Quotation of the Day…

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… is from page 52 of Ronald Coase [2]‘s and Ning Wang’s superb 2012 book, How China Became Capitalist [3]:

maxresdefaultEven when the state intervenes judiciously, the coercive force of the state does not come free.  Largely out of practical necessity, a collateral casualty of state enforcement is the loss of institutional diversity.

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