In this classic Milton Friedman interview from 1994, he explains why the collapse of the Berlin Wall was “the most influential action of the last 100 years.” Further, Professor Friedman explains why there’s an inertia and drive for government power, in the spirit of public choice economics - the benefits bestowed by governments are concentrated and the costs are dispersed and therefore those who feed at the public trough (e.g. farmers) tend to be much more organized than consumers/taxpayers. More timeless wisdom from Milton Friedman.
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A good post, Mark.
A telling comment: the benefits bestowed by governments are concentrated and the costs are dispersed and therefore those who feed at the public trough tend to be much more organized than consumers/taxpayers.
Not a good comparison between E. Germany and W. Germany for Milt — are we becomming like W. Germany?