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Quotation of the Day…

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… is from page 205 of Jerry Z. Muller’s 1993 book, Adam Smith In His Time and Ours: Smith was remarkably prescient in identifying the promise of capitalism, and his work contributed in no small measure to the fulfillment of that promise. The difficulties and dangers to which Smith pointed remain with us. That he did not solve them may reflect the fact that they are incapable of resolution. But some insoluble problems are more benign than others, and it was Smith’s judgment that the problems posed by commercial society are preferable to the alternatives. Comments

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is from page 205 of Jerry Z. Muller’s 1993 book, Adam Smith In His Time and Ours:

Quotation of the Day…Smith was remarkably prescient in identifying the promise of capitalism, and his work contributed in no small measure to the fulfillment of that promise. The difficulties and dangers to which Smith pointed remain with us. That he did not solve them may reflect the fact that they are incapable of resolution. But some insoluble problems are more benign than others, and it was Smith’s judgment that the problems posed by commercial society are preferable to the alternatives.

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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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