Quotation of the Day…

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… is from page 98 of Virginia Postrel’s splendid 1998 book, The Future and Its Enemies:

Trade creates resilience, while economic busts and political crises function at home as well as abroad. “Self-sufficiency” merely adds to those shocks the ancient fears of famine, disease, earthquake, fire, and flood – and a cushion limited to whatever happens to be in the bioregion. In investment terms, this supposedly safe strategy amounts to an undiversified portfolio.