January 19, 2009
Quote of the Day: Charles Koch
The role of business is to produce goods and services that make people's lives better. And if you have to get a subsidy -- if you have to force other people to support your profit -- you're not doing that. You're not making them better off; you're making them worse off.

More here.

Posted by Joshua Hall at 08:32 PM 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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