March 14, 2005
The value of property rights

This showed up in my email this morning, so I don't know the veracity of the statement (although it sounds probable):

The man who recorded the widely recognized AOL greeting, "you've got mail" was a friend of an AOL executive and was never financially compensated for his recording.

Oops.

Posted by Craig Depken at 11:56 AM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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