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: Trump’s Foreign Policy Is An Anti-American Disaster
Threats are easy. Supply chains, deterrence math, and real endgames are not. We dive into the rising talk of U.S. strikes on Venezuela and why public saber-rattling can lock leaders into dangerous escalations they can’t control. From leaked authorizations to carrier...
