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The Book of Regulation



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Today on Uncommon Knowledge, Milton Friedman states when it is acceptable for government to intervene in the market.

[T]he key feature of a libertarian view is that you should be free to do what you want provided you don’t prevent other people from doing the same thing. And so the only case for government is when it is not feasible for market arrangements to make individuals pay, to compensate others for any harm they impose on them.

 

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