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Old 01-03-2012, 09:46 PM
badhatharry badhatharry is offline
Join Date: Jul 2009
Location: eastern sierra
Posts: 5,413
Default Re: Means and Ends (Joshua Cohen & Glenn Loury)

Originally Posted by sapeye View Post
These traps are not a matter of moral good or bad, or of political orientation. They are built into the way systems operate, and the only way to prevent them from developing is through regulation, which limits short term individual freedom for the sake of the long term collective good. Libertarian arguments for extreme individual freedom without regulation logically lead to systemic collapse and potential chaos.
Right, regulation by a wise and unbiased class of rulers which has absolute knowledge of human nature and the way to ameliorate harm caused by humans. Too bad this doesn't exist.
"By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it." Adam Smith
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