Uncertainty and Free Markets

When there is a draught there is no little harm done by paying a medicine man to do a rain dance. As it turns out the weather is unmanageable but people might feel better for having tried to do something. Efforts to manage the economy are not at all benign. Can the economy be managed? Of course not, but still the efforts to do so are monumental. A free market economy cannot be enhanced by anything government does, other than removing itself as a source of problems. Notice that every effort to improve the economy requires removing one or more necessary characteristics of a free market.
In a true free market economy an uncertain outcome is the norm. Efforts to reduce uncertainty backfire 100% of the time. Try to reduce uncertainty and the result is poverty. Politicians can only be elected by promising to do what can’t be done. One of those things that can’t be done is to reduce uncertainty.

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