12 October, 2009

Quote of the day

The Quote of the Day comes from economist Jagdish Bhagwati, at the World Affairs Journal:

After two and a half centuries of this fascinating debate, I have to say that my own sympathies lie with those who have found markets, on balance, to be on the side of the angels. But I should also add that I find the specific notion that markets corrupt our morals, and determine our ethical destiny, to be a vulgar quasi-Marxist notion about as convincing as that other vulgar notion that ownership of the means of production is critical to our economic destiny.

Feeble Critiques: Capitalism's Petty Detractors

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