Nearly everyone complains about capitalism’s defects, or market failures. In fact, those are social failures, not specifically market failures, which show up when many rational individual actions create a social situation that displeases everyone. This means that government dirigisme — state direction or displacement of the market — cannot be a remedy because who do you think staffs the government and how do they get there? A big difference between the two systems — market and state — is that while the market diminishes social defects, the government magnifies them.
The Evergreen State Pays the Green Toll of Stupidity
I cover mostly military topics here at the LI Blog per my charter but on occasion I cover other topics. The Washington State ferry system is in tatters. It continues to get worse barely a week into the new year: Washington State Ferries needs 17 boats to operate at...
