Quotation of the Day…

by Don Boudreaux on July 19, 2017

in Complexity & Emergence, Hubris and humility, Law, Property Rights

… is from page 46 of Richard Epstein’s excellent 1995 book, Simple Rules for a Complex World:

The insistence on the autonomy of the person, and on the dominance of private over collective property, is an effort not to promote greed and selfish behavior but to create many small separate domains in which informal norms can take over, at far greater precision and at lower cost [compared to that of formal rules designed and enforced by the state].


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