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My GMU Econ colleague Bryan Caplan details some of the many reasons why the theory of market failure is a set of floating abstractions, none more baseless than the belief – unjustified in theory and disproven by reality – that governments reliable act apolitically and with sufficient knowledge to ‘correct’ market ‘failures.’ Here’s Bryan’s conclusion:

I could go on and on, but [the] general point is that market failure theory does more than complain about markets; it also tells governments how to repair them.  Any government that fails to comply with these impressively precise instructions ipso facto fails.  Indeed, non-compliant governments are a textbook case of government failure.  And while the severity of this government failure varies, every known government fails severely.

In my most recent column for the Pittsburgh Tribune-Review, I applaud an event of 46 years ago: the end of conscription in the United States. Here’s my conclusion:

Conscription results in the Pentagon’s budgetary figures lying about society’s true cost of manning America’s armed forces. Even worse, conscription — by relieving taxpayers of the need to pay full price for military personnel — enables taxpayers legally to steal conscripts’ labor services. That’s slavery.

Max Gulker explains what a real libertarian experiment looks like.

Here’s part 2 of Alberto Mingardi’s and Terence Kealey’s critical assessment of the work of Mariana Mazzucato.

George Will isn’t convinced that P.M. May’s Brexit plan is dead.

Kelsey Harkness defends my former GMU colleague Neomi Rao from leftist distortions.

My Mercatus Center colleague Jennifer Huddleston Skees warns of attempts to regulate Internet content.