≡ Menu

Quotation of the Day…

… is from page 45 of Deirdre McCloskey’s 2021 volume, Bettering Humanomics: A New, and Old, Approach to Economic Science:

If you know, for example, that real income per head has risen in Europe since 1800 by a factor of about thirty, then your political impulse to condemn “capitalism” as impoverishing or riddled with “imperfections” is at least disciplined. You may continue to be a socialist or a regulator, but you will need to sharpen your argument in some other way than going on and on using the same alternative false facts and fake science of impoverishment and imperfection.

DBx: I’m now reading Thomas Piketty’s new book, Time for Socialism. No one is in more need of the advice offered above by Deirdre than is M. Piketty and his many fans.