By Luis Rivera III
Dr. Walter Block is a guest on Our Story with host W.C. Johnson. Johnson was upset on the inefficiency of government when dealing with the corollaries of Hurricanes Katrina, namely it’s rescue attempts or lack thereof. This motivated Block to explain the fail safe mechanism intrinsic to the market that weeds out inefficiency. When the public sector fails they get more money and stay in “business,” the market however is a system which penalizes mistakes. With enough mistakes an entity within the free market eventually becomes obsolete. Dr. Block also explains why the producers within the market are more receptive to ones’ wishes than politicians. He explains the packaged deal that comes with voting for politicians. W.C. Johnson deems anarchy as failure if it’s not a utopia, however he does not hold any other model to such scrutiny of perfection. Another mistake the host makes is claiming that business transactions come at the expense of one of the parties involved in the direct exchange. Enjoy the video:
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Walter Block Our Story 1st appearance