Quotation of the Day…
by Don Boudreaux
on January 19, 2017
… is from page 67 of Jerry Evensky’s article “The Wealth of Nations,” which is chapter 5 in Ryan Patrick Hanley, ed., Adam Smith: His Life, Thought, and Legacy (2016):
In [Adam] Smith’s vision of humankind’s progress through stages, the social, political, and economic dimensions of human societies form a simultaneous system within which progress in any one dimension is dependent on complementary progress in the other two. An oft-neglected thread that weaves its way through his analysis of the progressive development of the wealth of nations is that such progress is impossible without simultaneous, appropriate development of social and political institutions.
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