Quotation of the Day…

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… is from page 178 the 1987 Liberty Fund edition of the Correspondence of Adam Smith; specifically, it’s from Smith’s September 20th, 1774, letter to Dr. William Cullen:

That in every profession the fortune of every individual should depend as much as possible on his merit, and as little as possible upon his privilege, is certainly in the interest of the public.

DBx: Adam Smith died on this date, July 17th, in 1790. He was 67 years old.