Inspired by Skip’s recent Notable Quote post from Café Hayek, I got to thinking about the basic differences between a free market economic system and socialism.
Articles tagged as
Great Mind Fallacy
Notable Quote – I Have to Keep Saying This Because So Many Haven’t Learned It
An objective look at the limitation of our knowledge – how difficult is it to know whether we are making good decisions even in our own lives, let alone in those of anyone else? – reveals that in fact we are typically in no position to judge what is good for others.
Notable Quote – This Is Why Decentralization of Society is so Important
The “Great Mind Fallacy,” or GMF … has two aspects. Its first is to believe that there is some person or group of people who possess enough information, and is endowed with sufficiently superior character, that we can safely entrust with the authority of crafting policy for citizens. Its second aspect is to endorse public … Read more