93 books
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2 voters
Austrian
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There is only a certain amount of wealth in the world, this thinking goes. Economics is a matter of acquiring and allocating, not creating. This was the view of the world’s smartest people, all top philosophers and not stupid people, for many thousands of years before the age of the enlightenment. It still is.
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Growing economies are built by billions of actors behaving according to their own interests, coordinated through institutions that no one in particular created.
Realizing this requires humility, a trait that is in short supply among would-be dictators, politicians, and bureaucrats, which is precisely why these groups are the proven enemies of prosperity in all times and places.
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