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Bonus Quotation of the Day…

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… is from page 259 of my late Nobel laureate colleague Jim Buchanan’s 1993 monograph, Property as a Guarantor of Liberty, as this monograph is reprinted in James M. Buchanan, Federalism, Liberty, and Law [2] (2001), which is volume 18 of the Collected Works of James M. Buchanan [3]:

Unknown-1The omnipresent confusion that has corrupted Western attitudes and that threatens to close off the opportunities now presented to emerging post-socialist societies involves the failure to recognize that “constitutional” must be placed in front of “democracy” if the political equality of individuals is to be translated with any meaningful measure of freedom and autonomy. ┬áThe tyranny of the majority is no less real than any other, and, indeed, it may be more dangerous because it feeds on the idealistic illusion that participation is all that matters.

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