"Because there is no link between the 'revenue' acquired by government agencies and the costs they incur, there is no way of utilizing the yardstick of profitability to evaluate whether agencies are performing a useful function."
It is because the liberal elite believe that, without a massive government, the economy would collapse to zero.
Contrast Austrian Welfare Economics with alternative approaches including Pareto Optimality and Kaldor-Hicks. Recorded at Mises Universi
Is consumer product regulation necessary or does the free market have superior alternatives?
Discusses difficulties presented by government intervention into medical care in two parts: the problems of regulation of pharmaceuticals, and broa
Recorded at Mises University 2010. Includes an introduction by Mises Institute founder and chairman, Llewellyn H. Rockwell, Jr.
Problems of international development aid and the domestic welfare state. Recorded at Mises University 2010.
The Depression is supposed to be Exhibit A of the alleged instability of the free market left to its own devices, while the New Deal represents the indispensable corrective power of the state.
The United States imposes import quotas that substantially raise domestic sugar prices, harming domestic consumers to benefit politically powerful domestic sugar producers.
