Archive for December 14th, 2012

thatcher and a free society

Some decades ago William F. Buckley and Margaret Thatcher discussed the importance of capitalism in a free society:

Once you compress the incentives from the top and say “It doesn’t matter how much you earn, I am going to take the lion share away from you”, then they say “Alright, then I’m no longer going to do the lion’s part”. And then they stop creating the extra wealth which would both benefit them and society as a whole.

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