Bonus Quotation of the Day…
by Don Boudreaux
on March 19, 2021
… is from page 11 of my former student Alex Nowrasteh’s and GMU Econ alum Benjamin Powell’s hot-off-the-Cambridge-University-Press book, Wretched Refuse? (2021) (footnote deleted):
Humans, as economist Julian Simon long argued, are the ultimate resource. It is human creativity that turns nature into natural resources and raw materials into valuable capital and new technologies. Unfortunately, much of humanity, by accident of birth, lives in countries where human creativity is constrained. Though not the only reason for low productivity, lousy governance is often what prevents humans from making the most of their creativity and potential.
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