Tuesday 10 January 2023

"This virtuous process ... grants anyone and everyone at least a chance to prosper."


"The wealth of a nation and its people came from enhanced productivity. Greater output per capita led to higher wages and incomes, greater consumption, and increased capital accumulation. This virtuous process, led by entrepreneurs and innovators, would swell production, granting anyone and everyone at least a chance to prosper."
~ Phil Gramm, Robert Ekelund and John Early, from their 2022 book The Myth of American Inequality: How Government Biases Policy Debate [hat tip Cafe Hayek]

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