… is from page 255 of my colleague Peter Boettke’s January 2020 presentation to a meeting of the Mont Pelerin Society at the Hoover Institution’s Stanford University headquarters – a presentation titled “The Reception of Free to Choose and the Problem of the Tacit Presuppositions of Political Economy,” as the text of this presentation appears as Chapter 14 of Pete’s excellent 2021 book, The Struggle for a Better World:
But boiled down to its bare essentials the Friedmans are simply asking that public policies be incentive compatible with basic economic motivations. Asking policy proposals to not require mythical beings populating the world for the policies to yield the results desired is not too big a logical leap.
DBx: Indeed. Yet many professors, pundits, and politicians – left, center, and right – continue to propose policies as if these policies will be implemented by angelic miracle workers.