So, government is this all knowing, all seeing, entity which can plan, in detail, what should be produced, by whom, where, at what price. That’s what we need to be true if we are to have an interventionist government which tries to plan the economy.
Government is so ill-equipped to judge the future that it sold €6 billion’s worth of property off for £1.6 billion – that’s what we need to be true for that £4.5 billion loss, no? This is not a world in which we can trust government to plan our economy, is it?
And which government exists in reality? Well, the complaint is that second. And the people complaining are largely those who insist that we should act as if we’ve government of the first type. No, they don’t note the discord in that logic either. Governments aren’t very good at economic decisions therefore governments must make more economic decisions for us all. If you can manage to believe that you too can join the Labour Party.
Tim Worstall, “That Ministry Of Defence Housing Deal Proves It’s Impossible To Plan The Economy”, Continental Telegraph, 2018-07-13.
November 12, 2020
QotD: It’s impossible to plan the economy
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