“When one takes the time to consider the multiple dimensions of what constitutes human well-being just as Crafts did, it is hard not to engage in hyperboles such as ‘We are infinitely better off than our close ancestors.'” ~ Vincent Geloso
“The wisest thing to do is to resist the urge to whack around your opponents for something which, let’s admit it, is mostly for your own personal gratification.” ~ Vincent Geloso
“Regardless of how one tries to cut it, state involvement in schooling creates a profound alteration of political incentives. The debates in America over critical race theory in high school constitute the most recent (and most divisive) illustration of this.” ~ Vincent Geloso
“Remedies such as using antitrust legislation or implementing additional regulations would amount to the pyromaniac acting as firefighter. After all, the problem may simply be caused by too much government intervention in the first place.” ~ Vincent Geloso
“It is always worthwhile to take account of the bigger picture. Schooling is not only about what government departments can easily measure; it is also about these harder to measure aspects of a child’s well-being which parents are often best incentivized to understand and identify.” ~ Vincent Geloso
“Considerable resources are expended in the regulatory process to obtain (and defend) patents which may be unnecessary incentives to innovation. In the process, we may end up deterring innovation. With our presently heightened sense of the importance of research and development in setting our living standards, this possibility must be seriously taken into consideration.” ~…
“The work of Scott provides a powerful illustration of the importance of the qualification proposed by defenders of the super-rich. It is not wealth that is problematic, it is wealth generated by muting the forces of the market process (i.e. by rent-seeking). In other words, the policies that produce inequality matter!” ~ Vincent Geloso
“Economically free nations tend, by virtue of their protection of property rights, to produce more rewards to effort which increases the likelihood of upward mobility. There is one simple implication from this: if you are concerned about the societal effects of inequality, you really are concerned by the low quality of institutions.” ~ Vincent Geloso
“The findings of these recent articles are incredible for anyone seeking to bridge the divide between scholarly knowledge and the popular imagination. They show that even the worst-case scenario implies that the Industrial Revolution constituted a momentous and positive development in terms of the quality of life of the poorest.” ~ Vincent Geloso