Most people are oblivious to F.A. Hayek's insight that the critical information needed to run an economy - or even 15 percent of one - doesn't exist in any one place where it is accessible to central planners. Instead, it is scattered piecemeal among millions of people. All those people put together are far wiser and better informed than Congress could ever be. Only markets - private property, free exchange and the price system - can put this knowledge at the disposal of entrepreneurs and consumers, ensuring the system will serve the people and not just the political class.
John StosselDavid Boaz has been my guide to the history, economics, and politics of freedom for years.
John StosselCentral authority is bad. The bias should be for freedom. And without a central authority, there are lots of little authorities, and we learn which ones to trust.
John Stossel