"The American tendency to equate economic efficiency with moral virtue has deep roots in our history. It helps to explain why Americans so widely embraced the ideology of Adam Smith… Competition in open markets was seen as the most efficient way to allocate limited human resources and to maximize the satisfaction of human wants. Interference with market processes by government officials—whether lawful or illicit—was interpreted as not only inefficient but immoral."
Neil H. Jacoby

January 1, 1970

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Original Language: English

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pp. 197-198

https://en.wikiquote.org/wiki/Neil_H._Jacoby