Critics of markets are always quick to demonize the “profit-driven” decisions made in a market system. We should consider the alternatives. There is not much evidence that resources have ever been, or could ever be allocated efficiently through charities, and there isn’t really anybody even trying to advocate that. What they do advocate is that decisions be made by central planners (both elected and bureaucratic), whose motive is…the public interest? We do not need a substantial sample of decisions to see how rare the “public interest” motive is in government. So that leaves us with the Power Motive. People make decisions because they are driven to accumulate more power. Given the choice, I would have to pick the guy who wants nothing more than to fly around in a Gulfstream than the guy who dreams at night of having his face carved into the side of Mt Rushmore. The worst of it is that these days, those two guys are working together.

Tags: , , ,