since the Japanese are no dumber than we are, and they have an efficient system of state-coordination while we have an inefficient one, over the years they succeeded in the economic competition. Well, these are major phenomena of modern life—but where do you go to study them in the universities or the academic profession? That’s a very interesting question. You don’t go to the economics department, because that’s not what they look at: the real hot-shot economics departments are interested in abstract models of how a pure free-enterprise economy works—you know, generalizations to
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