fighting back: Mont Pelerin Society Meets in NY

“If you bound the arms and legs of gold-medal swimmer Michael Phelps, weighed him down with chains, threw him in a pool and he sank, you wouldn’t call it a ‘failure of swimming’. So, when markets have been weighted down by inept and excessive regulation, why call this a ‘failure of capitalism’?”

– Peter Boettke, speaking this weekend before the Mont Pelerin Society in New York, as quoted by Eamonn Butler, “Believers in free markets are fighting back”. London Times, March 9, 2009.  The Mont Pelerin Society was launched in 1947 by Friedrich Hayek as a forum for scholars, journalists, government officials, and intellectuals interested in classical liberal ideas.

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We have to use the process of competition to find out what the different people want and are able to do. — F. A. Hayek

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