Bonus Quotation of the Day…

(Don Boudreaux)

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… is from page 462 of my late Nobel-laureate colleague James Buchanan’s Fall 2005 Cato Journal essay, “The Market, Yes; Demos, No”:

I admired Peter Bauer for his courage in sticking to the simple verities, and I shared with him the notion that we do not need fancier science, whether analytical or empirical, to know the institutional parameters that are required to ensure economic growth and development.

DBx: Pictured here is the late Peter Bauer.