Friday, July 20, 2012

Quote of the Day: Economics versus Social Darwinism

Economics doesn't point to people and say, "Look what they can't do." Economics instead asks, "Well, what can they do?" If the answer is "something productive," then the Law of the Comparative Advantage implies gains to trade. Economics, known for its hard-headed methods, culminates in an optimistic and humane conclusion: Regardless of their Darwinian "fitness," the existence of people - even those well below average - makes the world a better place.

This is from Professor Bryan Caplan at the Econolog.com [hat tip Prof Don Boudreaux]

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