FREE MARKETS: EMPIRICALLY MORE EFFICIENT AND MORALLY SUPERIOR

JONAH:

I am all for more people understanding and appreciating the raw empirical power and objective superiority of market mechanisms. But there are philosophical and moral arguments at work here as well. ... I don't think our failure was solely rooted in our inability to defend efficient pricing mechanisms. Democratic capitalism ... is not purely a sterile and amoral arrangement for efficiently allocating resources. I don't see why conservatives can't defend the free market on both moral and empirical terms. Indeed, I thought we tend to believe that the right and the good have more than a coincidental tendency to go together.

RTWT.

OR AS I HAVE LONG PUT IT:

PROSPERITY IS THE BY-PRODUCT OF LIBERTY.

[NOTE: THIS IS NOT AN ARGUMENT FOR ANARCHISM OR AGAINST ALL REGULATION, BUT AN ARGUMENT FOR PROPER AND LIMITED REGULATION WHICH PROMOTES TRANSPARENCY AND MAINTAINS THE MORAL HAZARD.]