Quote of the Day for November 22, 2009


Birthday of Lionel Robbins (1898-1984).
326: From Smith: Wealth of Nations, Book V, Chapter 2:

    Of the former kind are in England the tax upon hawkers and pedlars, that upon hackney coaches and chairs, and that which the keepers of ale-houses pay for a licence to retail ale and spirituous liquors. During the late war, another tax of the same kind was proposed upon shops. The war having been undertaken, it was said, in defence of the trade of the country, the merchants, who were to profit by it, ought to contribute towards the support of it.

    V.2.101 (paragraph number)

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