Check out my latest: La-La Land EconomicsRecently, the professor of my economics class discussed the “flaws of markets,” claiming, “markets are only more efficient than state run intervention when they approach perfect competition.” She then addressed public choice theory, the idea that government bureaucracies are inefficient because bureaucrats tend to care mainly about their budget […]
People do not cooperate under the division of labor because they love or should love one another. They cooperate because this best serves their own interests. Neither love nor charity nor any other sympathetic sentiments but rightly understood selfishness is what originally impelled man to adjust himself to the requirements of society, to respect the rights and freedoms of his fellow men and to substitute peaceful collaboration for enmity and conflict.-- Ludwig von Mises
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