Posted tagged ‘Free Market Success’

Milton Friedman on Market Failure vs. Government Failure. Which Has a Higher Cost?

December 3, 2012

The highest cost is in our loss of individual freedom, which happens incrementally with each encroachment into the free market by government.

Francisco Capella, ” Markets are never perfect because human beings are limited in their abilities; proposing state fixes to alleged problems that individuals cannot solve freely seems to forget that the state is also made up of humans; and perhaps not the best ones. Bureaucrats are not disinterested angels, and the worst might get to the top.”

Milton Freidman is not a favorite of many Austrian thinkers mainly because of his ideas on monetary policy, and I agree on that point. Personally, I think he (more…)