Libertarianism is not the claim that individuals are always rational, or that markets are always efficient, or that the distribution of income under laissez-faire capitalism is always “fair.” Rather, it is the claim that, despite the imperfections of private arrangements, government interventions usually make things worse. Thus, non-intervention is the better policy.
Jeffrey Miron, “A case for the libertarian: Neither liberals nor conservatives recognize their inconsistencies”, Washington Times, 2014-07-17.
August 13, 2015
QotD: Libertarianism
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