April 07, 2006
At least he’s not proud of it

Greg Mankiw discloses that he’s never read the most important economics book of the 20th century. And he’s right – you’d never get to know this book from grad school reading lists.

Posted by Lawrence H. White at 04:11 PM in Economics  ·  TrackBack (0)

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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