Quotation of the Day…

by Don Boudreaux on June 16, 2018

in Hayek, Hubris and humility, Man of System

… is from page xiv of Martin Wolf’s 2004 book, Why Globalization Works:

[Robert] McNamara was a man of ferocious will, personal commitment to alleviating poverty and frighteningly little common sense. By instinct, he was a planner and a quantifier.

DBx: Pictured here is McNamara – a perfect poster-boy for the economist’s insistence that intentions are not results, or, alternatively, for Hayek’s fatal conceit.


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