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Quotation of the Day…

… is from page 180 of the 2012 revised and updated edition of Steven Landsburg’s excellent The Armchair Economist (original emphasis; footnote deleted):

If we are concerned about our defense preparedness, the problem arises not from too little interference with the market (in the form of subsidies) but from too much interference (in the form of controls). The best prescription for military preparedness might be a constitutional amendment guaranteeing freedom from price controls.

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