Wednesday, June 30, 2010

Laissez-Faire In The Future!

Later in the video Dan Mitchell admits that there is no empirical data for any 'laissez-faire' that is more 'laissez-faire' than Hong Kong. In other words there is no empirical evidence to validate the statement: 'when there is no government, economic output is very low.'

A priori evidence verifies the beneficial conditions of the rule of law and property rights. The form of government to optimize these conditions is not restricted to the obsolete types that most people are familiar with.

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