Free markets are awesome because they give business incentives to do good stuff that sounds bad. Governments are awful because they give politicians incentives to do bad stuff that sounds good. Since the correlation between what IS good and what SOUNDS good is quite low, this is a huge deal.
– Bryan Caplan, Ph.D. (December 27th, 2021)
Dr. Bryan Caplan is the New York Times Bestselling author of Open Borders, The Myth of the Rational Voter, Selfish Reasons to Have More Kids, and The Case Against Education, has been blogging for EconLog since 2005. Labor Econ Versus the World collects the very best of his EconLog essays on the science and ethics of work.