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Philosopher Kings vs. Milton Friedman
The always-interesting Arnold Kling writes at TCSDaily:
Milton Friedman got it right, and Plato got it wrong.
That is the message that I take away from Clifford Winston's exhaustive survey of the actual results of well-intentioned government policies aimed at correcting market failures. He looks at policies designed to address all of the ills that economists and others have identified with markets -- monopoly power, imperfect information, externalities, and so on. Government tends to make things worse, not better.
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