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Milton J. Madison - An American Refugee Now Living in China, Where Liberty is Ascending

Federalism, Free Markets and the Liberty To Let One's Mind Wander. I Am Very Worried About the Fate of Liberty in the USA, Where Government is Taking people's Lives ____________________________________________________________________________________________ "Extremism in defense of liberty is no vice. Tolerance in the face of tyranny is no virtue." -Barry Goldwater-

Monday, May 16, 2011

My rant for the day.....

A well functioning marketplace has so many prices, participants, innovations and even bankruptcies that no single entity could possibly comprehend it and effectively intervene. And keep in mind that almost every intervention in marketplaces by governments is just a transfer of wealth that benefits one over another. And although one can claim to be able to measure the immediate impact (I challenge even this assertion), there is no way one can measure the intermediate or longer term interventions that may, in-fact have the exact opposite consequences of the original intended intervention. The thought that governments can intervene effectively and efficiently is a modern opiate that have lulled people into thinking that governments are capable of these things and this has created arrogant bureaucrats that have come to think that intervening in markets is their mandate. If intervention in market places created value and wealth for a nation, then the Soviet Union prior to 1989, North Korea, China in the 1950's and East Germany prior to 1989 would have been economic powerhouses. But clearly they were not.

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