Bonus Quotation of the Day…

by Don Boudreaux on May 28, 2021

in Hubris and humility, Man of System, Myths and Fallacies

… is from page 217 of Deirdre McCloskey’s and Alberto Mingardi’s superb 2020 book, The Myth of the Entrepreneurial State:

But the economy is not a car or boat: there is no helm, there is no wheel to steer it. Benevolent people at the “helm” are not enough to take a better direction, though bad or ignorant people messing with it can take it in a disastrous direction. The economy is more complex than anything a single set of benevolent human beings can steer, if we want to keep the economy rich and the society free. And non-benevolent people, of which sadly there is no shortage at any price, are very willing to use emergencies to seize riches and to crush liberty.


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