Quotation of the Day…

(Don Boudreaux)

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… is from page 272 of the 1975 HarperPerennial printing of the third (1950) edition of Joseph Schumpeter’s profound 1942 volume, Capitalism, Socialism, and Democracy:

Evidently the will of the majority is the will of the majority and not the will of “the people.” The latter is a mosaic that the former completely fails to “represent.”

DBx: Schumpeter died – just one month shy of his 67th birthday – on this date 73 years ago.