… is from page 125 of my colleagues Virgil Storr’s and Ginny Choi’s just-published book, Do Markets Corrupt Our Morals? (original emphasis):
Competition [in markets] ensures that only those who serve others can maintain and accumulate wealth. Stated another way, the more competitive the market, the more becoming and staying wealthy depend on discovering what consumers (including poor consumers) want…. Markets, thus, offer less protection of the rich’s wealth than nonmarket contexts and disproportionately help individuals and countries that are poor.
Competition [in markets] ensures that only those who serve others can maintain and accumulate wealth. Stated another way, the more competitive the market, the more becoming and staying wealthy depend on discovering what consumers (including poor consumers) want…. Markets, thus, offer less protection of the rich’s wealth than nonmarket contexts and disproportionately help individuals and countries that are poor.The post Bonus Quotation of the Day… appeared first on Cafe Hayek.