toomuchtime_
Gold Member
- Dec 29, 2008
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I simply disagree. There is never a time that the government or any other institution could step in and make a better choice than the market itself.
To make this assumption, one must assume people are always rational. They are not.
I'm not sure I've ever understood this argument. It doesn't matter if people are rational. If businesses make the wrong decisions they go out of business, and there are consequences for individual people based on their wrong decisions.
People are not always rational in business or in government, but in markets ruled by price competition, bad decisions are quickly punished and good decisions are rewarded; in government bad decisions should be punished by voters and good decisions rewarded, but we all understand how this rarely happens in a precise and timely manner.