Why governments' attempts to pick winners produce more losers than winners.
"For it was an elegant and true reply that was made to Alexander the Great by a certain pirate whom he had captured. When the king asked him what he was thinking of, that he should molest the sea, he said with defiant independence: 'The same as you when you molest the world! Since I do this with a little ship I am called a pirate. You do it with a great fleet and are called emperor'."
"We were at all times in danger of forgetting - until rudely awoken by the attack on the New York Twin Towers of September 11, 2001 - that the primary role of government is to look after the physical security of the population and that all else is secondary", The Changing Economic Role of Government in Against The Flow (2005)