June 21, 2006
Cartoon on the Profit Motive, Competition, and Entrepreneurship

Aeon Skoble points the way to a cartoon with lots of nifty economics. The cartoon does seem a bit too happy about taxes but at least it's clear that wealth (and the resulting ability to pay taxes) is created by the private sector.

Posted by E. Frank Stephenson at 02:45 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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