John Nash, R.I. P.
May 25, 2015
John Nash, winner of the Nobel Prize in Economics for his work on game theory (“Nash equilibrium”) and his wife were killed in a taxicab crash yesterday. God bless them both, and may they rest in peace.
They would be alive today had they taken an Uber car instead of a car driven by a member of the state-sanctioned taxicab monopoly regulatory regime. Anyone who has ever ridden on one of the wildly speeding/recklessly driven/seatbeltless New York/New Jersey taxicabs knows what a farce it is that the taxicab monopoly claims that, because it is so heavily regulated, it is supposedly safer than Uber. Competition makes products and services safer; state-sanctioned monopoly does the exact opposite and makes them more dangerous.
Dr. Thomas DiLorenzo [send him mail] is a former professor of economics at Loyola University Maryland and a longtime member of the senior faculty of the Mises Institute. He is the author or co-author of eighteen books including The Real Lincoln; How Capitalism Saved America; Lincoln Unmasked; Hamilton's Curse; Organized Crime: The Unvarnished Truth About Government; The Problem with Socialism; and The Politically-Incorrect Guide to Economics.
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