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Quotation of the Day…

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… is from page 288 of Martin Wolf’s splendid 2004 book, Why Globalization Works: Foreign capital is inevitably unstable if it has no confidence in the protection of its property rights. DBx: Indisputably so. And confidence in the protection of property rights understandably falls the greater and louder is the talk of replacing the discipline of markets with the discretion of government officials. Comments

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… is from page 288 of Martin Wolf’s splendid 2004 book, Why Globalization Works:

Quotation of the Day…Foreign capital is inevitably unstable if it has no confidence in the protection of its property rights.

DBx: Indisputably so. And confidence in the protection of property rights understandably falls the greater and louder is the talk of replacing the discipline of markets with the discretion of government officials.

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Don Boudreaux
He is a professor of economics at George Mason University in Fairfax, Virginia. Previously, he was president of the Foundation for Economic Education.

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