Public Goods Theory Demolished
The popular statist argument for government intervention is the market failure or free rider problem, which derives from the public goods theory. I just found this great short logical refutation of it:
Fallacies of the Public Goods Theory and the Production of Security
Hans Hoppe, an Austrian economist, shows the whole public goods theory to be erroneous (p.1-8). For the rest of the article (p.8-15) he discusses the market provision of security.
His verdict:
In spite of its many followers, the whole public goods theory is faulty, flashy reasoning, ridden with internal inconsistencies, nonsequiturs, appealing to and playing on popular prejudices and assumed beliefs, but with no scientific merit whatsoever.
His reasoning is airtight and a thing of beauty. He totally demolishes the public goods theory!
Did anyone read the article?
I found it brilliant reasoning. He so thoroughly destroys the public goods theory, it just makes you laugh that professional academics believe in it!
England sucked us in...
both in WW1 and WW2 and now they're doing it again. How stupid are we?
It is nice....
that this post comes up just as Chairman Gordon Brown of England is addressing congress. His address is making me physically sick espousing his socialist views to the congress. The congress (with Nancy in the lead) are jumping up and down on every globalist, socialist, anti-free market word that oozes out of his lying mouth. As I write this he is getting yet another standing ovation for urging congress to prohibit off shore banking. I worry that this is the beginning of the one world government that many dismiss as a conspiracy theory. I wonder if Chairman Obama (Sorteo), has put Brown up as the front man to warm us up so as to seem neutral in this over reach and usurpation of our way of life? Lord help us now.
I am not sure who was more sickening to watch--
Brown or Geitner! I was appalled to see Geitner's lame attemps in the Senate hearing to "Baffle them with Bull" because it was apparent he didn't know what he was talking about! I don't think that committee has a 'Ron Paul' willing to stand up and really GRILL him!
His strategy is to keep referring to some "Plan" in the future, that he doesn't have "details" solidified yet.