Bonus Quotation of the Day…

by Don Boudreaux on July 4, 2020

in Complexity & Emergence, Growth, History, Innovation, Myths and Fallacies, Science, The Economy

… is from page 285 of Matt Ridley’s marvelous new (2020) book, How Innovation Works: And Why It Flourishes in Freedom (link added):

Britain, too, was slow to provide public support for science compared with France and Germany, but as [Terence] Kealey observes: ‘the continent supposed markets failed in science, the UK supposed they did not, and the industrial revolution was British, not French or German.’

DBx: Yes.

Only one error is more commonplace than to underestimate the creativity and abilities of people acting voluntarily – that is, acting in ways that each individual chooses, uncoerced by other human beings. That more-commonplace error is to vastly overestimate the creativity and abilities of people possessing the power to coerce fellow human beings.


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