Capital and Ideology Thomas Piketty
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#1 When the government interferes with the free market, resources cannot be directed to their most efficient use. If people are not allowed to do the things that they find most profitable, they lose the incentive to invest and innovate.
#2 The free market doesn’t exist. Every market has some rules and boundaries that restrict freedom of choice. A market appears free only because we so unconditionally accept its underlying restrictions that we fail to see them.
#3 The free market is an illusion. If some markets look free, it is only because we so totally accept the regulations that are propping them up that they become invisible.
#4 The free market is a bit like that. We accept the legitimacy of certain regulations so totally that we don’t see them. More carefully examined, markets are revealed to be propped up by rules.
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Ebook: May 5, 2022
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