Saturday, October 23, 2010

coppage v. state of kansas (1915)

From Samuel Bowles, Microeconomics: Behavior, Institutions, and Evolution (Princeton University Press, 2004):
Wherever the right of private property exists, there must and will be inequalities of fortune; ... it is impossible to uphold the freedom of contract and the right of private property without at the same time recognizing as legitimate these inequalities of fortune that are the necessary result of the exercise of those rights.

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