"In a small town, government proceeds tolerably well. There is not
much distance between governors and the governed. The latter know
where the former live... and how they live... and how little
difference there is between them. If the governors overreach, they
are likely to find themselves beaten in the next election... or in
the middle of the street. But as the scale increases... as the distance between the governed
and the governors increases... and as the institutional setting grows
and ages... government becomes a bigger deal. More formal. More
powerful. It can begin governing more grandly...."
-- Bill Bonner, The Daily Reckoning (11/21/12)
Wednesday, November 21, 2012
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