Why governments' attempts to pick winners produce more losers than winners.





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"No profit-seeking enterprise, no matter how large, is liable to become bureaucratic provided the hands of its management are not tied by government interference. The trend toward bureaucratic rigidity is not inherent in the evolution of business. It is an outcome of government meddling with business. It is a result of the policies designed to eliminate the profit motive from its role in the framework of society's economic organization", Bureaucracy (1945), p.20

— Ludwig von Mises



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