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Quotation of the Day…

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… is from page 202 of my favorite of all of Richard Epstein’s many superb books, his 1995 volume, Simple Rules for a Complex World: One advantage of markets is that they allow uniform solutions to spread quickly if appropriate, while allowing diverse solutions to emerge (somewhat more slowly) when required. A range of contractual solutions may be tailored not to the generic relationship, but to the particulars in each case.

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… is from page 202 of my favorite of all of Richard Epstein’s many superb books, his 1995 volume, Simple Rules for a Complex World:

Quotation of the Day…One advantage of markets is that they allow uniform solutions to spread quickly if appropriate, while allowing diverse solutions to emerge (somewhat more slowly) when required. A range of contractual solutions may be tailored not to the generic relationship, but to the particulars in each case.

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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