Quotation of the Day…
by Don Boudreaux
on April 20, 2017
… is from page 108 Mark Zupan’s new (2017) book, Inside Job (footnotes deleted; links added):
Both Steven Pinker, in The Better Angels of Our Nature, and Matt Ridley, in The Rational Optimist, credit markets and business enterprises for improving our species’ civility. Over 200 years earlier, Adam Smith intended to spell this out in a third book that was not published due to his death. Free markets, which are based on clearly defined and enforced property rights as well as on the liberty of individuals to pursue their happiness, maximize the opportunity for repeat interaction across time, products, places, and people. The prospect for repeat interaction creates a future and that future, by casting its shadow on the present, promotes integrity.
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