29 January 2013

He Said It: Buchanan

"The European classical liberal, who is well represented by [F. A.] Hayek, can and perhaps should stress the evolutionary sources of many of the institutions that stand as bulwarks of individual freedom. The American cannot, and should not, neglect the fact that his own heritage of freedom, although owing much to its European antecedents, was deliberately 'constructed' in large part by James Madison and his compatriots. Theirs were no invisible hands."

--James M. Buchanan (1919-2013), "Law and the Invisible Hand" (1976), contained in The Collected Works of James M. Buchanan, vol. 17, Moral Science and Moral Order (Liberty Fund, 2001), 109.

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