Quotation of the Day…

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… is from pages 132-133 of Norbert Michel’s superb data-filled 2025 book, Crushing Capitalism: How Populist Policies are Threatening the American Dream:

The truth is that industrial policy will lead to a government-planned economy, which – as history has shown repeatedly – is doomed to fail because it seeks to impose the will of a few on everyone else. It rejects the benefits of economic freedom and the free-enterprise system. Industrial policy does not merely redirect the market economy, it takes it over, even if in small steps. Government coercion to achieve the preferred economic outcomes of those in power has demonstrably and repeatedly failed to life the common people’s fortunes. Industrial policy is not a recipe for improving people’s lives; it is a way to impoverish them.