Sunday, June 13, 2010

Quote of the day

Economist Peter Saunders:
Nobody planned the global capitalist system, nobody runs it, and nobody really comprehends it. This particularly offends intellectuals, for capitalism renders them redundant. It gets on perfectly well without them. It does not need them to make it run, to coordinate it, or to redesign it. The intellectual critics of capitalism believe they know what is good for us, but millions of people interacting in the marketplace keep rebuffing them. This, ultimately, is why they believe capitalism is ‘bad for the soul’: it fulfills human needs without first seeking their moral approval.
Too true. So much of government action can be best viewed as solutions in search of problems, or individuals seeking to make themselves relevant.

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