What did trust, cooperation, progressive taxation and the interventionist state bequeath to western societies in the decades following 1945? The short answer is, in varying degrees, security, prosperity, social services and greater equality. We have grown accustomed in recent years to the assertion that the price paid for these benefits-in economic inefficiency, insufficient innovation, stifled entrepreneurship, public debt and a loss of private initiative-was too high. Most of these criticisms are demonstrably false.
Tony JudtRelated topics
answer debt false following high inefficiency innovation loss pay price progressive prosperity public security short state taxation trust western years entrepreneurshipRelated quotes
[T]he mass-man sees in the State an anonymous power, and feeling himself, like it, anonymous, he believes that the State is something of his own. Suppose that in the public life of a country some difficulty, conflict, or problem presents itself, the mass-man will tend to demand that the State intervene immediately and undertake a solution directly with its immense and unassailable resources. This is the gravest danger that to-day threatens civilisation: State intervention; the absorption of all spontaneous social effort by the State.
José Ortega y Gasset
The worst thing that will probably happen-in fact is already well underway-is not energy depletion, economic collapse, conventional war, or the expansion of totalitarian governments. As terrible as these catastrophes would be for us, they can be repaired in a few generations. The one process now going on that will take millions of years to correct is loss of genetic and species diversity by the destruction of natural habitats. This is the folly our descendants are least likely to forgive us.
E. O. Wilson
All the alleged key causes of SOE [State-Owned Enterprise] inefficiency - the principal-agent problem, the free-rider problem and the soft budget constraint - are, while real, not unique to state-owned enterprises. Large private-sector firms with dispersed ownership also suffer from the principal-agent problem and the free-rider problem. So, in these two areas, forms of ownership do matter, but the critical divide is not between state and private ownership - it is between concentrated and dispersed ownerships.
Ha-Joon Chang
The supporters of tariffs treat it as self-evident that the creation of jobs is a desirable end, in and of itself, regardless of what the persons employed do. That is clearly wrong. If all we want are jobs, we can create any number-for example, have people dig holes and then fill them up again, or perform other useless tasks. Work is sometimes its own reward. Mostly, however, it is the price we pay to get the things we want. Our real objective is not just jobs but productive jobs-jobs that will mean more goods and services to consume.
Milton Friedman
To make everything yield to custom would be to do the greatest injustice. Were the judgments of mankind correct, custom would be regulated by the good. But it is often far otherwise in point of fact; for, whatever the many are seen to do, forthwith obtains the force of custom. But human affairs have scarcely ever been so happily constituted as that the better course pleased the greater number. Hence the private vices of the multitude have generally resulted in public error.
John Calvin
