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.

More here.