Government should never be able to do anything you can't do. If you can't steal from your neighbor, you can't send the government to steal for you.
Who needs theory when you have so much information? But this is categorically the wrong attitude to take toward forecasting, especially in a field like economics where the data is so noisy.
The Signal and the Noise: Why So Many Predictions Fail - But Some Don't
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Who needs theory when you have so much information? But this is categorically the wrong attitude to take toward forecasting, especially in a field like economics where the data is so noisy.
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The principle that the end justifies the means is in individualist ethics regarded as the denial of all morals. In collectivist ethics it becomes necessarily the supreme rule.
Laissez faire (in its full true meaning) opens the way to the realization of the noble dreams of socialism.
Growing economies are built by billions of actors behaving according to their own interests, coordinated through institutions that no one in particular created.Realizing this requires humility, a trait that is in short supply among would-be dictators, politicians, and bureaucrats, which is precisely why these groups are the proven enemies of prosperity in all times and places.
There is only a certain amount of wealth in the world, this thinking goes. Economics is a matter of acquiring and allocating, not creating. This was the view of the world__ smartest people, all top philosophers and not stupid people, for many thousands of years before the age of the enlightenment. It still is.