August 22, 2004

Have you smacked a libertarian today?

I have to link to funny articles that make fun of libertarians. It's in my contract.

Here's an especially funny bit:

A liberal or even a very confused conservative might argue that we should have strict and far-reaching car safety laws. To protect people! How insulting! In reality, anyone who's taken Economics 101 can tell you that regulations like this are essentially taxes that will raise the price of owning an automobile for everyone!

How can the government know where the right level, the right equilibrium level (economics, again!) where the cost, equals the subjective benefit of that safety for that person lies? The answer is it does not and it cannot! We must allow people to choose a level of safety that is right for them! That's the only efficient (economics strikes one more!) outcome.

Some people who've hung around those mostly liberal universities for more than two years -- we all know the ones, no need to point them out! -- take a class called "Economics 150" or some equivalent. They learn, or I should say, they say they learn about something called "social costs". You must pretend these social costs do not exist!

Posted by Jeffrey at August 22, 2004 8:16 PM
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