Imagine buying cars the way we buy governments. Ten thousand people would get together and agree to vote, each for the car he preferred. Whichever car won, each of the ten thousand would have to buy it. It would not pay any of us to make any serious effort to find out which car is best; whatever I decide, my car is being picked for me by the other members of the group. Under such institutions, the quality of cars would quickly decline.--David Friedman
It strikes me, and it probably struck Friedman, that "purist" libertarianism requires the same sort of unanimity that is required by socialism. In either case, we have to all agree on what constitutes a just society.--Arnold Kling
In American culture, we have strippers. Yes, much like the oracles of ancient Greece, we Americans prefer our advice to come from naked women who are probably just really, really high.--Tom Fornelli
Originally from the pit at Tradesports(TM) (RIP 2008) ... on trading, risk, economics, politics, policy, sports, culture, entertainment, and whatever else might increase awareness, interest and liquidity of prediction markets
Tuesday, July 08, 2008
Quotes of the day
Labels:
freedom,
limited government,
quotes
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