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Quotation of the Day…

… is from page 445 of the 5th edition (2015) of Thomas Sowell’s Basic Economics:

Moreover, the public usually buys finished products in the marketplace, but can choose only among competing promises in the political arena.  In the marketplace, the strawberries or the car that you are considering buying are right before your eyes when you make your decision, while the policies that a candidate promises to follow must be accepted more or less on faith – and the eventual consequences of those policies still more so.  Speculation is just one aspect of a market economy but it is the essence of elections.


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