Quotation of the Day…

(Don Boudreaux)

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… is from page 278 of Albert Jay Nock’s 1943 essay “Liberalism, Properly So Called,” as it is printed in Liberty Fund’s 1991 collection of some of Nock’s essays – a collection titled The State of the Union: Essays in Social Criticism (Charles H. Hamilton, ed.):

Liberalism held that society’s work should be carried on, its responsibilities met, and its difficulties dealt with, by the application of social power, not governmental power; social power meaning the power generated and exercised by individuals and groups of individuals working in an economy which is free of governmental interference – an economy of free contract.