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Bonus Quotation of the Day…

… is from page 32 of W.H. Hutt‘s important 1936 volume, Economists and the Public:

There is something almost tragic in the fact that the leading apologists for reason cease to be rational when they enter the field of economic controversy.

DBx: Indeed so. Far too many people who boast of their commitment to science and reason are quite unscientific in their evaluations of market processes, commonly failing to ask “As compared to what?”. Even worse, such people are downright mystical in their evaluation of political processes. They believe in miracles.