Quotation of the Day…

(Don Boudreaux)

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… is from page 151 of my colleague Richard E. Wagner’s deep 2017 intellectual biography of Jim Buchanan, James M. Buchanan and Liberal Political Economy:

Yet democracy and liberty cannot be complementary political values, at least not without significant effort at constitutional reconciliation. At base, democracy embraces the principle that majorities dominate minorities. In contrast, liberty is a principle of non-domination whereby interaction among people is governed by principles of private property and not by majority rule.