Why governments' attempts to pick winners produce more losers than winners.
"The process of the market economy is, so to speak, a plebiscite de tous les jours, where every monetary unit spent by the consumer represents a ballot, and where the producers are endeavoring by their advertising to give 'election publicity' to an infinite number of parties (i.e. goods)."
"What an augmentation of the field for jobbing, speculating, plundering, office-building and office-hunting would be produced by an assumption of all the state powers into the hands of the general government", letter, 13 August 1800