The Libertarian Mind by David Boaz

Author:David Boaz
Language: eng
Format: epub
Publisher: Simon & Schuster

GOVERNMENT’S DISCOORDINATION

What is the role of government in the economy? To begin with, it plays a very important role: protecting property rights and freedom of exchange so that market prices can bring about coordination of individual plans. When it goes beyond this role, trying to supply particular goods or services or encourage particular outcomes, it not only doesn’t help the process of coordination, it actually does the opposite—it discoordinates. Prices convey information. If prices are controlled or interfered with by the government, then they won’t convey accurate information. The more interference, the more inaccurate the information, the less economic coordination, and the less satisfaction of wants. Interference in the information conveyed by prices is just as destructive to economic progress as interference in language would be to having a conversation.

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