Bonus Quotation of the Day…
by Don Boudreaux
on February 3, 2021
… is from page 205 of the late UCLA economist William Allen’s superb 1989 collection of the transcripts of his radio addresses, The Midnight Economist; specifically, it’s from Allen’s August 1981 address “Inequality: Economic and Political”:
Of course, the private-property, enterprise society is not the only kind with inequalities. And the prospect of a collectivist utopia in which liberty has been foregone but inequalities still persist should give pause even to the most innocent. The fact that the inequalities would reflect preferences of the politbureau instead of producer productivities and market preferences would hardly make them more attractive.
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