The big difference between big government and big business is big government can take you to jail, or shoot you if you don’t comply. —Thomas Massie
Tag: Free Market
If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down.
Under rent control, there are no market penalties for shoddy service because there is a long line of potential tenants. Thus rent control does not eliminate but rather creates “slumlords” who in a market system would have to compete to attract and retain tenants.
—Robert P. Murphy
If an employer has an opening that pays $50,000 in salary, and the Christian applicant will bring in $51,000 in extra revenue to the firm while the Muslim applicant will bring in $55,000, then to discriminate against the creed of the latter will cost the employer $4,000 in potential profits. Discrimination is automatically “fined” in the free market. — Bob Murphy
The evils of capitalism are simply the evils of social trends and the evils and the misdeeds of human beings. We are going to misbehave; there will be evil in the world. Capitalism is, by far, the best system for channeling human wishes and incentives into the best outcomes. —Gene Epstein
The thing about unintended consequences is it doesn’t matter whether your intent is good, it doesn’t matter whether the regulation that you’re imposing is well thought out, it doesn’t matter whether lots of people are in favor of the regulation. It is the fact that the coercion takes away from people their abilities to make decisions for themselves that causes the unintended consequence. —Antony Davies
Over 40,000 people die on the nation’s roadways every year, and you or a loved one might one day join this horrid list.
Do not be mislead by the oft made contention that the actual cause of highway fatalities is speed, drunkenness, vehicle malfunction, driver error, etc. These are only proximate causes. The ultimate cause of our dying like flies in traffic accidents is that those who own and manage these assets supposedly in the name of the public—the various roads bureaucrats—cannot manage their way out of the proverbial paper bag. It is they and they alone who are responsible for this carnage.
This does not mean that were thoroughfares placed in private hands that the death toll would be zero. It would not. But, at least, every time the life of someone was tragically snuffed out, someone in a position to ameliorate these dangerous conditions would lose money, and this tends, wonderfully, to focus the minds of the owners. This is why we do not have similar problems with bananas, baskets, and bicycles, and the myriad of other goods and services supplied to us by a (relatively) free enterprise system.
—Walter Block
In Nicaragua where sign language didn’t exist, in 1981, a new school for the deaf opened. Fifty deaf students enrolled during the school’s first year, and a curious thing happened: they developed their own version of sign language. No one taught them this; they simply began assigning signs and gestures to the things in their environment, and slowly a language emerged, complete with verb tenses and the like, to rival any other language. Spontaneous orders are systems that develop organically. They aren’t designed by a coercive authority. They emerge through countless human interactions undertaken over time. —Antony Davies, James R. Harrigan
In Kenya, the elephant population dropped from 65,000 to 19,000 even though elephant hunting was forbidden. In Zimbabwe, however, natives can claim, or homestead, elephants living on their lands. Natives can legally sell permits to hunt them. Zimbabwe’s elephant population grew from 30,000 to 43,000. People will protect the environment when they own it and profit from it. —Mary J Ruwart
I viewed the marketplace as a cruel place, where you need intervention by government to protect people. But after watching the regulators work, I have come to believe that markets are magical, and the best protectors of the consumer. It is my job to explain the beauties of the free market. —John Stossel
It takes a bold person to be for personal liberty because you have to be able to cope with people saying things and engaging in voluntary acts that you deem offensive. —Walter Williams