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Quotation of the Day…

… is from page 37 of Steven Landsburg’s superb and hot-off-the-press The Essential Milton Friedman (original emphasis):

The reason capitalist societies have a chance of achieving political freedom is that in capitalist societies, economic power is dispersed. There’s always someone else to appeal to.

DBx: This point is one that Friedman brilliantly emphasized in his 1962 book, Capitalism and Freedom. This point is also made by Hayek in The Road to Serfdom. And of course, when Steve writes that “There’s always someone else to appeal to,” he – echoing Friedman and Hayek – refers to suppliers of the inputs necessary to exercise such freedoms as those of speech, the press, and assembly.


Steve’s volume is the latest in the Fraser Institute’s Essential Scholars series. Do check out the wide range of resources available with Steve’s book.