Thursday, August 05, 2010

Your word of the day is "Dirigisme"

Free enterprise does everything better.

Uh huh. And if you bake bread with bread flour, it will always be better than all-purpose flour, even if you forget the yeast.

The key to successful private enterprise, as Hernando De Soto demonstrated, is clearly defined property rights. What we are discovering is that, as the ability of government to clearly delineate property rights increases, the scope of private industry correspondingly increases.

An emphasis on the ability of private industry to accomplish public objectives is short-sighted. In the worst (and unfortunately most typical) case, privatization creates an unaccountable private company, shielded by a undiminished layer of bureaucracy providing "oversight" and "accountability."

Before focusing things on privatization, focus on property rights. Create a new field for private industry. Once you've got companies champing at the bit, turn them loose.

1 Comments:

Anonymous Roger Kovaciny said...

One of the things I've learned from Dennis Prager is that life is messy. In other words, no philosophy, school of thought, political stance OR religion (and I am very religious) has all the answers. Religion doesn't, evolution doesn't, psychology doesn't, government doesn't, capitalism doesn't, libertarianism, doesn't, conservatism doesn't. You have to be somewhat eclectic, pragmatically evaluating all the above, which is why I am conservate and religious but know that there are times in my life when I needed the help of psychology and group therapy and the church didn't have all the answers.

3:41 AM  

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