Monday, July 30, 2007

argument from efficiency

"I do not accept individual freedom because the market is efficient. Even if the free market were less “efficient” than central planning, I would still prefer my personal freedom to coercion. Fortunately, I don’t need to make a choice. Austrian economics upholds the market’s efficiency, and that reinforces my overwhelming desire and right to be free."

- Ron Paul's Mises and Austrian Economics pamphlet (link to PDF)

The quotes around "efficient" are as found in the original text, and I'm not at all suprised to see that coming from an Austrian scholar, being that any and all measures of efficiency are ultimately and objectively meaningless.

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