What is the opportunity cost of the government's spending? All those resources used for the shuttle program had to come from somewhere. It is impossible for a government to make the vital calculations of costs and benefits.
Is consumer product regulation necessary or does the free market have superior alternatives? Considers the government’s failure to provide the best level of protection for consumers. Recorded at Mises University 2010.
Discusses difficulties presented by government intervention into medical care in two parts: the problems of regulation of pharmaceuticals, and broader implications of socialist calculation problem for centralized control of medical care. Recorded at Mises University 2010.
Thanks to the untiring efforts of Bill Clinton and George W. Bush, Americans have been faced with the greatest expansion of the government into medical care since the 1960s. When these moves are complete, the free market in American medicine will be practically gone. Interventionism will be in...