Localized Mistakes Versus Centralized Systemic Mistakes

Some people are afraid of a free society because this would mean that free people have the ability to make mistakes without the government preventing or solving them, and these mistakes can often negatively affect other people. Indeed, humans are never perfect and will always make mistakes. Imbalances may occur. But these problems exist in any society made of humans. The realistic choice is between the following:  1) A free society with free markets, where decision making power is decentralized to individual persons so that mistakes and imbalances are smaller and localized, and where such problems have rapid self-correcting mechanisms, or 2) A statist society with a large government, where decision making power is centralized into the hands of a powerful few so that mistakes and imbalances can occur on a grand scale, and where such problems take nearly forever to solve given the politicized, incompetent, and slow bureaucratic government that’s in charge. Some examples of such massive systemic failures are the Great Depression, the 2008 financial crisis, public schools, inflation, and nearly everything else the government does.

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