Quotation of the Day…

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… is from Nobel-laureate economist James Buchanan’s October 17th, 1960, letter to the Ford Foundation’s Kermit Gordon, as this letter appears on pages 76-81 of David Levy’s and Sandra Peart’s superb 2020 volume from Cambridge University Press, Towards an Economics of Natural Equals: A Documentary History of the Early Virginia School:

In my view, the essential content of the inquiring spirit or atmosphere lies in the explicit acceptance of what may be called scientific morality. By this I mean a willingness to search for and to accept truth, regardless of where it may lead us, and to accept all currently-established truths as, in one sense, relative and subject to modification upon the progressive development of new ideas.