Quotation of the Day…

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… is from page 11 of Johan Norberg’s excellent 2023 book, The Capitalist Manifesto:

It is always popular when someone promises us the world, bailouts and free stuff. But it just does not work. Still doesn’t. There are no free lunches, and wealth has to be created before it can be distributed. Sooner or later you always run out of other people’s money, as Thatcher put it, and if you print more then sooner or later you’ll ruin its value.