Even if it proves to be an inexact science, the effort is worth undertaking.
The approach of unconditional help regardless of the results doesn’t work in our private lives. How much worse is it when taxpayers are paying the bill?
Entrepreneurs from around the world (including China) want to “steal” or imitate the clever doings of creative minds in the U.S because the U.S. is the most prosperous and creative nation in the world. Pundits view this as a threat, think we should empower the federal government to penalize the theft, but the much bigger worry would be if the creative found nothing worth emulating.
Instead of worrying about the rights over her songs falling into the wrong hands, she should understand that unleashing her work from the tight grasp of IP’s claws would benefit her, as it would set her apart from other artists, and benefit all humankind, as others would be able to improve on what she’s done.
For all its imperfections, American business does a pretty good job — a much better job, Cowen argues, than most people think, and I, for one, agree.
Dissatisfaction is baked into the human experience, keeping us all forever on the move, on the hunt, looking for the next thing. As tragic as this is, it is here we find the source of progress in the world, the unending search for a better life. And it is always a search, one that requires a social template of freedom and experimentation, not with the goal of nirvana but the goal of experiencing hope and opportunity.
Because free markets typically give to producers as well as to consumers strong incentives to use their unique bits of knowledge in ways that promote the general welfare, that both the knowledge problem and the incentive problem exist at all levels of government decision-making means that what is warranted is a strong and general presumption against government intervention – or, worded differently, what is warranted is an ideology of freedom.
So long as there are new ways to think about the conflict between someone who has been bitten by a radioactive spider, a crime lord who has lost his family, and a mad scientist with mechanical tentacles, there will be room for economic progress.
The core issue is twofold: public ownership of the roads and no stockholders/owners in charge of security services who are answerable to consumers. The result is exactly what you get from socialism: random chaos, coercion, and lack of accountability.