Wednesday, February 28, 2007

20 Myths About Markets

Excellent short paper by Tom Palmer (hat tip Tyler Cowen). My favorites from the list:

13. Markets Can Not Meet Human Needs, Such as Health, Housing, Education, and Food

12. Markets Lead to More Inequality than Non-Market Processes

8. The More Complex a Social Order Is, the Less It Can Rely on Markets and the More It Needs Government Direction

6. Markets Cannot Possibly Produce Public (Collective) Goods

2. Markets Promote Greed and Selfishness

1. Markets Are Immoral or Amoral

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