Historically, government’s primary function has been to exploit the industrious
Historically, government’s primary function
has been to exploit the industrious
Historically, government’s primary function
has been to exploit the industrious–anyone who works and trades in the
market–for the sake of the political class, which prefers collecting subsidies
to earning wages or profits. …. The
privileges take the form of tariffs, licenses, monopolies, land grants,
[patents], and other subsidies. These enable favored interests to increase
their incomes beyond what the market would provide, either by forcibly
extracting wealth from producers or by barring them from competitively serving
consumers. The name for this privilege-based system is mercantilism, and in
many ways it lives on today even in market-oriented economies, which is why they
are often called mixed economies.
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