BRYAN CAPLAN
May 7, 2013
Keynesian Bets: What's Out There
May 6, 2013
Keynesian Bets Bleg
May 6, 2013
The Pyramid of Macroeconomic Insight and Virtue
May 2, 2013
A Natalist Provision
May 1, 2013
I Was a Teenage Misanthrope
DAVID HENDERSON
May 5, 2013
John Thacker on Vaccinations and the Sequester
May 3, 2013
Chef Rudy's Virtues Project
May 2, 2013
My take on Reinhart and Rogoff
May 1, 2013
Medicare Kills a Program


Mr Kling,
I agree with your points except for one caveat. If there is no such thing as "public interest," then how can anyone claim that the free market benefits everyone and is basically in everyone's interest? I suppose one can argue that a free market is not in the interest of protectionists and monopolists, but the ideological support for free markets are that it is ultimately beneficial to all citizens. Is it not?
-Stephen Meli
But it is not in my self interest to have free market. I want a benefit. I want my politician to make me special.
Stephen Meli wrote: "If there is no such thing as "public interest," then how can anyone claim that the free market benefits everyone and is basically in everyone's interest?"
Stephen, free markets benefit everyone and are basically in everyone's interest because we all value different things or the same things differently. In every transaction, the buyer values the goods or services more than the money price, and the seller prefers the money to the goods or services. Otherwise the transaction would not be consummated. So markets accomodate differences in values, not consensus.
What absence of a united public interest does discredit is government, because government is coercive, and forces people into actions they do not necessarily wish to take.