Tag: Liberty
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Myth: Markets only work when an infinite number of people with perfect information trade undifferentiated commodities
Abstract models of economic interaction can be useful, but when normatively loaded terms such as “perfect” are added to theoretical abstractions, a great deal of harm can be done. For the state to be the agency that would move markets to such “perfection,” we would expect that it, too, would be the product of “perfect”…
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Myth: Markets depend on perfect information, requiring government regulation to make information available
Markets do not require for their operation perfect information, any more than democracies do. Significantly, politicians and voters have less incentive to acquire the right amount of information than do market participants, because they aren’t spending their own money.
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Myth: Reliance on markets leads to monopoly
While many believe that free markets tend to produce monopolies, it is actually government that is the grantor and protector of monopoly rights. Market competition works against monopoly power.
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Myth: Markets are immoral or amoral
Are markets moral or immoral? Tom G. Palmer responds to the myth that there is no morality in market exchange.
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For Koch critics, facts aren’t part of the equation
A newspaper editorial begins with “What is it, or why is it, that the name Koch, particularly here in Lawrence and Kansas, seems to trigger such angry, passionate and negative responses from a certain segment of the community, particularly among some at Kansas University?” It’s a good question.
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If government ordered your lunch, would you get what you want?
Speaking on government making decisions for us, Antony Davies concludes “Even if it’s benevolent, it fails because it lacks the necessary information to make those decision correctly.”
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‘Occupy Koch town’ ignores the facts
As director of corporate communication for Koch industries, I’ve read and heard much about this company and its shareholders that is dishonest, distorted and derogatory. And while we continue to try to bat down the falsehoods, as quickly as we quash one, another rears its ugly head. As Winston Churchill once said, “A lie gets…
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Modern-day students and attitudes towards government
Many modern-day college students seem to think that government entitlements should be the source of the things they want.