Jan 5, 2014 · 5:00 PM
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"Vinz, you said before you were waiting for a sign. What sign are you waiting for?"
"Gozer the Traveler. He will come in one of the pre-chosen forms. During the rectification of the Vuldrini, the traveler came as a large and moving Torg! Then, during the third reconciliation of the last of the McKetrick supplicants, they chose a new form for him: that of a giant Slor! Many Shuvs and Zuuls knew what it was to be roasted in the depths of the Slor that day, I can tell you!"
As we learned last week, the academic argument for forced wealth transfer is based on the claim of market failure, yet time after time government economic intervention causes more problems and destroys wealth. As a result, even mainstream economists no longer try to justify government economic policies based on arguments from efficiency or utility, yet welfare economics is alive and well, and governments continue to regulate all kinds of economic transactions, and economic activity continues to suffer and decline accordingly. In fact it is pretty much impossible to find any economic activity taking place in a "free market", and if there is, it is likely illegal.
Besides the damage to markets, discouragement of entrepreneurial activity, and the violence done to innocent people, government economic policies also spread false signals throughout the economy, which distort all economic transactions, causing inefficiency and economic bubbles, leading to the eventual bust and resulting loss of wealth.
What would we ever do without government I wonder?
What sign are you waiting for? - http://www.youtube.com/watch?v=zjzZhTS_xa0
Foundations of Welfare Economics - Hülsmann - http://mises.org/media/998/Foundations-of-Welfare-Economics
Welfare Economics - Herbener - http://mises.org/media/6570/Welfare-Economics
The Third Way: On Government Interference in the Market Process - Callahan Chapter 11 - http://mises.org/resources/2031/Economics-for-Real-People
Dynamics of a Mixed Economy - Ikeda - http://www.libertarianismo.org/livros/dotmesi.pdf
Towards a Reconstruction of Utility and Welfare Economics - Rothbard - http://mises.org/daily/2205
Hoppe In One Lesson, Illustrated In Welfare Economics - Herbener - http://mises.org/daily/4014/