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"The spontaneous individual optimization that drives the theories with which I began is important, but it is not enough by itself. If spontaneous Coase‐style bargains, whether through laissez-faire or political bargaining and government, eliminated socially wasteful predation and obtained the institutions that are needed for a thriving market economy, then there would not be so many grossly inefficient and poverty-stricken societies."
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"Of course after the conference a desperate attempt was made by Mr. Bonham-Carter to show that of course they weren't committed to federation at all. Well I prefer to go by what Mr. Grimond says; I thi…"
— Hugh Gaitskell
Politics1906–1963
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