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.
Pentagon Pork Parade: Fat Amy Continues to Prove Pigs Can Fly
Pig can fly on occasion as the F35 Porkulus Project continues to bleed oceans of money. Welcome to Clown World: the F-35 requires nearly 9 million lines of computer code. Meanwhile, Apollo 11's Lunar Lander needed only 145,000 lines of code. There are three variants...