Quotation of the Day…

(Don Boudreaux)

Tweet

… is from pages 142-143 of Thomas Sowell’s 1983 book, The Economics and Politics of Race: An International Perspective (original emphasis):

Long-run political policies are almost a contradiction in terms in societies where politicians are elected in the short run.

DBx: This reality is yet another that is ignored or waved-away by proponents of industrial policy.