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Quotation of the Day…

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… is from page 268 of Kristian Niemietz’s important 2019 book, Socialism: The Failed Idea That Never Dies (link added): According to [Bryan] Caplan, there is a huge difference between holding (or rather, acting upon) irrational beliefs in our personal lives and holding irrational beliefs in political life. We bear the full cost of the former, but there is no cost associated with the latter. DBx: No personal cost, that is, associated with the latter. The burdens suffered by society as a result of irrational government policies are monstrous. Because the outcome of any election will be whatever it will be regardless of how you vote, or whether or not you vote, you can believe that government officials possess supernatural powers and yet you pay no personal cost for being in the grip of,

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… is from page 268 of Kristian Niemietz’s important 2019 book, Socialism: The Failed Idea That Never Dies (link added):

Quotation of the Day…According to [Bryan] Caplan, there is a huge difference between holding (or rather, acting upon) irrational beliefs in our personal lives and holding irrational beliefs in political life. We bear the full cost of the former, but there is no cost associated with the latter.

DBx: No personal cost, that is, associated with the latter. The burdens suffered by society as a result of irrational government policies are monstrous.

Because the outcome of any election will be whatever it will be regardless of how you vote, or whether or not you vote, you can believe that government officials possess supernatural powers and yet you pay no personal cost for being in the grip of, and acting on, this wacky superstition. And this superstition is widespread, not least among intellectuals.

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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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