I rather like a comment on Friedrich A. Hayek's The Constitution of Liberty, made by Alan Erkkila on Amazon:

Probably the most important insight in my own personal life [from this book] runs to the effect that the gap between the wisest among us and the most foolish among us is not as great as the most sophomoric among us think. It is, unfortunately, the last who suffer the cravings of power the most and wish to run our lives for us. This is my paraphrase, Hayek was much more polite.

posted by James DeLong @ 11:35 AM | Markets: Business, Investment & Innovation

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