Quotation of the Day…

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… is from page 49 of the late Allan Meltzer’s 2012 book, Why Capitalism?:

Governments have no intrinsic advantage over the private sector in hiring teachers, doctors, nurses, or other professionals, nor any advantage in building schools or hospitals. Rather, they tend to be at a disadvantage, out of lack of expertise, failure to refine their operations, or because they regulate themselves more heavily than the private sector, for example, by requiring regulated firms to hire only unionized workers…. When government runs any system, its employees often find it easy to capture. State officials also tend not to guard taxpayers’ wallets as jealously as if they were their own.