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Oh, come on, let them eat cake

“Laissez-faire is dead and the modern state has become responsible for the modern economy as a whole.  The task of insuring the continuity of the standard of life for its people is now as much the fundamental duty of the state as the preservation of national independence.” — Walter Lippmann, Godkin Lectures, 1934.

Published inEconomicsLippmannPolitics & Law

One Comment

  1. Deb Deb

    Kind of amazing how true this statement holds, eh? I always considered myself a staunch capitalist, but times have changed.

    Nice place, Tetman!

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