Bonus Quotation of the Day…
by Don Boudreaux
on July 11, 2021
… is from page 112 of Eamonn Butler’s 2018 monograph, An Introduction to Capitalism:
The inability (or unwillingness) of business people to explain the public benefits of entrepreneurship and free markets is surely a huge weakness of capitalism, and a huge threat to it. By muddling capitalism with cronyism, such supposed champions do the cause no favours. The idea of capitalism is hard enough to understand already: the immediate benefits of interventions are easy to grasp, but not the long-term advantages of leaving markets and competition to work; and few people realise how delicate the market order is, and how wildly it can be thrown out of gear by even small political interventions.
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