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.
Lying Politicians Gonna Lyingly Politick
House Speaker Mike Johnson speaking on Holocaust Remembrance Day: We remember what happened then [in Nazi Germany], and today, we are witnessing American universities quickly become hostile places for Jewish students and faculty. The very campuses which were once the...
