Why governments' attempts to pick winners produce more losers than winners.
Richard Branson is going to create an "environmental showcase for the world" on the Caribbean island of Moskito. He "wants to transform Moskito into the world’s first carbon-neutral holiday resort, complete with wind power, recycling and Balinese-style huts for eco-friendly families."
How are these eco-friendly families going to get there? What are they going to do with the recyclate? What happens when the wind isn't blowing hard enough (which is a lot of the time on the British Virgin Islands)?
"Political economists are in general quite suspicious of governmental intervention. They see in it inconveniences of all kinds—a diminution of individual liberty, energy, prudence, and experience, which constitute the most precious resources of any society. Hence, it often happens that they oppose this intervention."