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Notes -
That’s the good intention which paved the road to Hell, the road we call the anti-trust laws. Alan Greenspan wrote a detailed yet eminently readable paper, later published by Rand, about the US government’s efforts to stop “monopolies” and the resulting unbridled growth of the bully state.
Outlaw unequivocally evil externalities, to be sure! But don’t let the law become non-objective, subject to whim or pull. If you give a man a gun and tell him he’s the defender of justice, pretty quickly he’ll think his job is to find the right time to pull the trigger. Find the proper size and role of government, and provide better incentives for it to protect the individual even at the cost of outcomes for pressure groups with sob stories or crocodile tears.
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