faith in what, exactly
February 13, 2010 Leave a comment
From “Faith, Snow & Government” by Skip Oliva:
It’s often said that libertarians have “faith” in free markets. I don’t think that’s the case. What we have is an understanding of the division of labor and the law of comparative advantage. Some people mistakenly confuse that with religious fanaticism. …
Government, in contrast, is an attempt to violate the natural laws of economics. The division of labor is irrelevant, claim the faithful, because we have elections to install leaders who will provide all manner of services, regardless of the leaders’ actual knowledge of experience. If we just elect the “right” people and have faith in them, the political system will outperform individual action and voluntary exchange.