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It’s pretty clear that when governments open markets and relax market controls the population grows in wealth. Certainly, technology drives efficiency and grows
by ch4s3 1y ago
It’s pretty clear that when governments open markets and relax market controls the population grows in wealth. Certainly, technology drives efficiency and grows the pie I wouldn’t argue otherwise. However the closed economies with price controls and lots of government intervention can’t easily make use of technological innovations. China started growing when private businesses were first allowed, for example. The Nordics took off after liberalizing their economies. You can look across South America and see that the most open economies have the highest standards of living.
I don’t disagree that governments have a role in regulating harms, and neither did Friedman. He did believe that taxing pollution was more effective than setting particular targets, but that’s a difference of approach not of aims.
I think we probably have more overlap than you imagine.