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.
Anti-War Blog – Rafah is now a memory
“Down this road on a summer day in 1944, the soldiers came. Nobody lives here now. They stayed only a few hours. When they had gone, a community, which had lived for a thousand years, was dead. This is Oradour-sur-Glane, in France. The day the soldiers came, the...
