Against Laissez-Faire Democracy
In a new paper, Brennan and Freiman argue persuasively that: the arguments against laissez-faire capitalism apply in a rather straight way against laissez-faire democracy. This should be a rather startling result, considering that laissez-faire capitalism is widely rejected, yet laissez-faire democracy is widely accepted. All the typical market failure arguments–externalities, asymmetric information, principal-agent problems, behavioral […] The post Against Laissez-Faire Democracy appeared fi...
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Marginal Revolution (United States) | Oct 07, 2026
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