Quotation of the Day…

by Don Boudreaux on July 28, 2019

in Hubris and humility, Man of System, Virginia Political Economy

… is from pages 269-270 of my former professor Randy Holcombe’s 2018 book, Political Capitalism: How Economic and Political Power is Made and Maintained:

When governments are given more discretion, this opens the door for those who hold government power to use it for their own interests. This is true whether power is seized by force and the population is held down by fear or whether power is purposely given to government by a citizenry who believes it will be used to further the public interest. The elite did not plan to design a system in which they benefit at the expense of the masses, and they would speak out against such a system. Rather, the Progressive ideology, which granted the government more power and more discretion with the idea that government could be a benevolent force for furthering the public interest, gave the elite more power to design public policy for their benefit. The elite are looking out for their own interests, as is everyone, and the expanding size and scope of government provides them with a mechanism to further their interests.

DBx: The road to hell is indeed paved with good intentions. And no American laid down more pavement on that road than was laid down by Woodrow Wilson.


Add a Comment    Share Share    Print    Email

Previous post:

Next post: