Quotation of the Day…

(Don Boudreaux) The principal job – certainly the first job – of the economist is to explain to the general public how economic order arises spontaneously, guided largely by market-determined prices. This job, I believe, is a high calling. Without a correct understanding of the emergence and maintenance of economic order, the typical person supposes that the economy is created and run consciously, and the only question then being whether the conscious directors of the economy are to be private parties or government leaders (with the former always acting only to promote their own narrow interests, while the latter at least have the potential to act to promote the public interest).

Source: Quotation of the Day…