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Quotation of the Day…

… is from page 185 of University of Notre Dame philosopher James Otteson’s important 2021 book, Seven Deadly Economic Sins:

Cooperative market behavior … allows individuals to seek to improve their own conditions only by simultaneously improving the conditions of others. In markets, we compete with each other to find ways to cooperate with and benefit one another.

DBx: Among the finest honors in my life is to have been a co-author with the late, great Hugh Macaulay. Hugh and I joined forces to write this piece for the March 1996 issue of The Freeman; it’s related to the above quotation. (Pictured here is Hugh. This photo is likely from a Clemson University classroom in the 1970s or early 1980s.)