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I call this the Fundamental Problem of Political Economy. How do we limit the power that idiots have over us?. . . [Milton] Friedmans insight is that a market limits the power that others have over us; conversely, limiting the power that others have over us allows us to have markets. Friedman argued that no matter how wise the officials of government may be, market competition does a better job of protecting us from idiots.

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Bill Vaughan

Optimism, unaccompanied by personal effort, is merely a state of mind and not fruitful.

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