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The Washington Cesspool – Monty Pelerin’s World

09/30/2011

The immorality of the US government should, by now, be apparent to most. Designed to be an independent referee, government is instead an active participant in the game. It has vested interests in outcomes including favorite winners and losers. The deterioration from independent referee to self-interested participant is not unique to the US. It is a natural tendency of government, independent of time, party or place.

“Self-interest” as described by Adam Smith was a concept not limited to markets. Smith’s “invisible hand” had positive aspects that resulted from the natural constraints imposed by markets. Government concentrates power with no opposing constraints other than written documents like laws or constitutions. As final enforcer of these and other laws, governments tend to assume more and more power over time. As written constraints become binding, they are increasingly ignored.

Lord Acton’s described the principle reason why:

Power corrupts; absolute power corrupts absolutely.  […]

Continue reading at Monty Pelerin’s World.

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