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 Kyle Anzalone Show: China Blows Up Trump’s Economic War on Iran
The Strait of Hormuz is where slogans go to die. Today we take a hard look at the claim that the United States “controls” the strait because mines were cleared and surveillance is perfect, then we test that claim against something more revealing: the reported message...
