Comments: The limits of free markets

Yes, government must step in and manage trade. Because they are wiser than the individual citizens, and are driven by purer motives -- well, let's face it, they're just better people.

I've committed the broadest heresy in libertarianism by suggesting that the Bernakeist, 2% inflation-targeted monetary regime is not-the-best, but in the grand scheme of things really not the worst.

The best response to both of us is Milton Friedman's "where are you going to find these angels?" Public Choice theory says that they will be just as self-interested and Hayek has shown they will not have the knowledge required.

You like the current group, fine, but what about the policies of those appointed by President Elizabeth Warren and confirmed by Majority Leader Chuck Schumer?

I'll stick with "unfettered," thank-you, Silence, and thank you brother jg.

Posted by jk at April 9, 2018 12:27 PM

Clearly it is a major departure for me to endorse government management of anything, but here is another question for both of us: Should the Pentagon be privatized as well?

I see international trade as a direct analogy to international military combat. Both are pursuits of warfare but with different weapons.

Posted by johngalt at April 10, 2018 5:07 PM
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