Thursday, July 9

Quote of the day

Economists have an undeserved reputation for "religious faith" in markets. No one has done more than economists to dissect the innumerable ways that markets can fail. After all their investigations though, economists typically conclude that the man in the street - and the intellectual without economic training - underestimate how well markets work.

—Bryan Caplan, The Myth of the Rational Voter
(ht Perry)

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