Quotation of the Day…

by Don Boudreaux on December 8, 2016

in Crony Capitalism, Seen and Unseen, Subsidies

… is from page 159 of the 2016 Mercatus Center re-issue of my late colleague Don Lavoie’s superb 1985 volume National Economic Planning: What Is Left?:

080811_r17612_p646-859x1200-1471469603But of course helping capitalists is not to be equated with helping capitalism.  If the virtues of the market order stem from the knowledge generated by free competition, then there is no surer way to threaten this system than by subsidizing selected competitors.


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