“There is an important role for government in preventing fraud and the use of force. This is why we need a strong military to protect us from foreign tyrants, an effective police force to protect us from villains, and a principle-driven court system to allow us to settle legitimate disputes without the use of force. When government starts doing more than performing those basic roles, it is in the business of taking something that someone has produced and giving it to someone who has not earned it. It also destroys innovation and creativity by misallocating resources and limiting experimentation. Crony capitalists can exist only when the government has the power to dole out favors.”
Excerpt From: John A. Allison. “The Financial Crisis and the Free Market Cure: Why Pure Capitalism is the World Economy’s Only Hope.” McGraw-Hill, 2013. iBooks.
This material may be protected by copyright.
Check out this book on the iBookstore: https://itunes.apple.com/us/book/financial-crisis-free-market/id553202865?mt=11