Sunday, September 18, 2011

Capitalism and choice

"When you hear 'Satisfaction Guaranteed or Your Money Back,' the last thing that should come to mind is a government program. In free markets where choice prevails, conflict is minimized. If you don’t like the wares in one store, there’s no need to throw up a picket line, attend boring meetings and be talked down to by public 'servants,' or wait until an election and hope that 50%-plus-one will vote the way you want. You shop elsewhere. End of discussion." - Lawrence W. Reed, Foundation for Economic Education.

1 comment:

Hempy said...

Obviously Lawrence Reed is as clueless as you are about capitalism. Whenever there are prohibitions on the making of products in order to protect the economic hegemony of other businesses, then there's no free market. Adam Smith make this clear in The Wealth of Nations.

Bluegrass Policy Blog's patron saint, Milton Friedman also made the same point. However, this is a view that Caleb O. Brown and BGB don't share with either Smith or Friedman. Neither, apparently, does Reed. End of discussion.