Quotation of the Day…

by Don Boudreaux on July 20, 2020

in Crony Capitalism, Great Depression, History, Virginia Political Economy

… is from page 160 of Robert Higgs’s indispensable – and now more relevant than ever – 1987 book, Crisis and Leviathan:

My thesis is that the institutional revolution of the 1930s depended crucially on the existence of national emergency, a condition that was partly real, partly contrived, enormously exploited for political purposes.


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