Sunday, July 26, 2009

An Optimist's Creed

Here is what you might call an Optimist's Creed, from Steven Horwitz, an economics professor at St. Lawrence University:

"If one thinks about all the bad economic policies and the general growth of the state that has taken place since the early 70s, the fact that life is still so much better in so many ways should lead one to think ... that the Smithian forces of the division of labor and the power of Schumpeterian innovation will indeed continue to conquer the stupidity of the state. No doubt the fight will be a tougher one in the years to come, thanks to the events of the last year, but both history and theory suggest that the combined efforts of humanity coordinated by even restricted markets will still win out over the stumbling and bumbling of the political class."

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