All varieties of interference with the market phenomena not only fail to achieve the ends aimed at by their authors and supporters, but bring about a state of affairs which - from the point of view of their authors' and advocates valuations - is less desirable than the previous state of affairs which they were designed to alter.
About this quote
- What does it mean?
- Market interventions often fail to meet goals and worsen outcomes.
- In plain terms
- Interfering with markets usually makes things worse than before.
- What can you take from it?
- Government interference in markets creates unintended negative results.
Where it applies
Putting it to work
Questions to consider
- When should markets be regulated?
- Do goals ever justify interference?
Another view
Some markets require intervention to prevent harm or monopolies.
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