Quotation of the Day…

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… is from page 4 of GMU Econ alums Matthew Mitchell’s and Peter Boettke’s superb 2017 book, Applied Mainline Economics: Bridging the Gap between Theory and Public Policy:

Prosperity matters. Greater wealth, of course, buys us nicer vacations and fancier gadgets. But it also buys us longer life spans. It buys us better nutrition and lower infant mortality. It buys more time with family and less time at work. It buys greater self-reported happiness. It makes us better stewards of the environment. And it even buys intelligence, for as societies grow wealthier, their average IQs seem to rise.