Quotation of the Day…

Tweet

… is from page 61 of William Easterly’s marvelous 2006 book, The White Man’s Burden:

Markets everywhere emerge in an unplanned, spontaneous way, adapting to local traditions and circumstances, and not through reforms designed by outsiders. The free market depends on the bottom-up emergence of complex institutions and social norms that are difficult for outsiders to understand, much less change.