Bonus Quotation of the Day…

Tweet

… is from page 110 of Jonathan Israel’s 2010 book, A Revolution of the Mind:

Turgot acknowledges the ubiquitous character of poverty as a characteristic problem of modern society, but sees it as one that could be eased by removing hindrances to the flow of capital and investment. Equally, for [Adam] Smith poverty may sometimes constitute a chronic problem, but freeing up trade and especially injecting more dynamism into an economy will accomplish all that can be done to ensure that the “wages of labor” rise. This chiefly happens, he argues, as a by-product of enhancing economic dynamism and national wealth via free trade and market forces, not from tackling the problem of destitution as such.