Mark Steyn Does F. A. Hayek

Mark Steyn on regime uncertainty and the rule of law:

Functioning societies depend on agreed rules. If you want to open a business, you do it in Singapore or Ireland, because the rules are known to all parties. You don’t go to Sudan or Zimbabwe, where the rules are whatever the state’s whims happen to . . . → Read More: Mark Steyn Does F. A. Hayek

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Our task [as economists] is to show how only a market and a competition-determined price system can enable us from day to day to adjust a worldwide division of labor to ever-changing circumstances and to maintain that degree of productivity which we need in order to keep the population of the world alive. — F. A. Hayek

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