Quotation of the Day…

by Don Boudreaux on July 22, 2020

in Competition, Complexity & Emergence, Growth, Innovation

… is from page 359 of Matt Ridley’s wonderful new (2020) book, How Innovation Works: And Why It Flourishes in Freedom:

The main ingredient in the secret sauce that leads to innovation is freedom. Freedom to exchange, experiment, imagine, invest and fail; freedom from expropriation or restriction by chiefs, priests and thieves; freedom on the part of consumers to reward the innovations they like and reject the ones they do not.

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