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





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"It is a euphemism to call a government in which the rulers are free to do whatever they themselves believe best serves the common weal a welfare state, and to contrast it with the state in which the administration is bound by law and the citizens can make good in a court of law their rights against illegal encroachments of the authorities. This so-called welfare state is in fact the tyranny of the rulers", Bureaucracy (1945)

— Ludwig von Mises



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