Wednesday, February 20, 2008

Market vs government power

My friends over at workinglife.org and some other corners of the web would do well to keep this (from John Stossel) in mind:

Notice that she equates government power and market power. That is absurd. "Power" in a free market means success at creating goods and services that your fellow human beings voluntarily choose to buy. Government power is force: the ability to fine and imprison people.


Read the whole thing. I don't necessarily agree with all of his conclusions (that the government is bad at something right now doesn't necessarily mean that they shouldn't do it.), but it is important to recognize that there is a cost associated with interfering with the market. Sometimes it's worth it, but a lot of times it's not.

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