In the lapidary words of Adam Smith, "Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice: all the rest being brought about by the natural course of things." But the "little else" is something of an understatement. Peace, easy taxes and justice are seldom found together in history. Only in Europe was this magic formula achieved, and it became the basis for Europe's unexpected ascent in the world.
Monday, September 5, 2016
Peace, easy taxes, and a tolerable administration of justice
From A Troublesome Inheritance by Nicholas Wade. Page 234.
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