Wednesday, June 06, 2007

Most prediction markets advocates seem to be libertarian

You know, please stay out of my bedroom and out of my wallet. Thanks.

But for those who believe the government can solve societal imperfections, enforcing rules in bedrooms and wallets seems like a good thing. Tom Bell has a great article on how government, since it is monopolistic and coercive by definition, can naturally grow bigger.

So much for rights and freedoms.

UPDATE: From the WSJ op-ed page, that quotes back to 1951:
We believe in the individual, in his wisdom and his decency. We oppose all infringements on individual rights, whether they stem from attempts at private monopoly, labor union monopoly or from an overgrowing government. People will say we are conservative or even reactionary. We are not much interested in labels but if we were to choose one, we would say we are radical.

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