Epstein on Laissez-Faire

quotes economics political philosophy laissez-faire

27 Feb 2014

Richard Epstein on laissez-faire:

One of the essential tenets of the system of laissez-faire is that all proposed legislation should be presumed unwise until it is shown otherwise. There are two grounds for this assumption. First, legislation costs money to implement. Second, all too often it interferes with the operation of competitive markets, which generally offer the best long-term path to prosperity.

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