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Quotation of the Day…

… is from page 210 of University of Notre Dame philosopher James Otteson’s superb 2021 book, Seven Deadly Economic Sins:

It is no more a failure of markets that resources are scarce than it is a failure of engineering that I cannot travel faster than the speed of light. Similarly, the fact that markets do not solve all problems is no more a problem with markets than the fact that modern medicine cannot cure all diseases is a problem with modern medicine.