Quotation of the Day…

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… is from pages 228-229 of Johan Norberg’s excellent 2023 book, The Capitalist Manifesto:

Many in the West believe China is winning and that the West’s only chance to cope with this economic and technological rivalry is to become more like China. But they confuse China’s unparalleled successes during the opening years 1978-2010 wit the centralist policies after 2010, which in fact hold the country back and put its future in peril. As long as China does not allow capital to flow the the most promising ideas, refuses to let entrepreneurs pursue innovations and surprises, and only allows markets in goods and not in ideas, China will never be an innovative, rich country.

DBx: Congratulations to Johan, whose book – quoted here – is the winner of the Manhattan Institute’s 2025 Hayek Book Prize. This Prize will be formally award this evening at a dinner in Manhattan.