"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Is the Environment a Public Good?
So we have not had a free marketplace, where civil protections against pollution and other tortious activity never arose because the transaction costs were too high. What we have actually had is a state capitalist marketplace, where the state artificially raised the transaction costs of enforcing civil protections against pollution.
(1 vote)
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