Comments on: To Nationalize or Not to Nationalize http://archive.mises.org/7814/to-nationalize-or-not-to-nationalize/ Proceeding Ever More Boldly Against Evil Sun, 19 May 2013 19:58:55 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: Inquisitor http://archive.mises.org/7814/to-nationalize-or-not-to-nationalize/comment-page-1/#comment-161262 Inquisitor Mon, 25 Feb 2008 04:48:11 +0000 http://blog.mises.org/archives/007814.asp#comment-161262 Hehe that is a leftist ‘critique’ of free markets, that it’s a system of ‘failure’. Wow, profound indeed. Except the significance of this is not that which they wish it had. It’s a refutation of their own dull-witted schemes.

]]> By: Miklos Hollender http://archive.mises.org/7814/to-nationalize-or-not-to-nationalize/comment-page-1/#comment-161255 Miklos Hollender Mon, 25 Feb 2008 04:39:54 +0000 http://blog.mises.org/archives/007814.asp#comment-161255 I’ve read an interesting argument somewhere: the whole point of the free market isn’t in success, but in failure. A smart manager, can manage an organization effectively in just about every system. The question is what happens when the manager is not smart, and the point of the free market is that it lets him fail while other systems do not. It means the free market roots out idiots and motivates the others to try to be smart.

Therefore, letting it go when it works and stepping in when there is trouble essentially removes the whole idea of the free market.

There is nothing special in letting something go free as long as it’s successful, generally smarter Communist states tended to do that too. What makes the free market special is letting something fail when it does not work, that’s the very idea. Stepping in only when it fails basically creates an oligarcy. I mean if I gamble in the casino and if I win, I get to keep it, but if I lose, somebody will help me out, then I’ll probably get rich really fast.

]]>