Assume that a surgeon has discovered how to do brain surgery, that he can do only one a month, that 1,000 persons a year need such an operation if they are to survive. How is the surgeon's scarce resource to be allocated? Charge whatever price is necessary to adjust supply and demand, say $50,000! 'For shame,' some will cry. 'Your market system will save only wealthy people.' For the moment, yes. But soon there will be hundreds of surgeons who will acquire the same skill; and, as in the case of the once scarce and expensive 'miracle drugs,' the price then will be within reach of all.
Leonard ReadIs it not obvious that the more complex an economy, the more certainly will governmental control of productive effort exert a retarding influence?
Leonard ReadCoercion is as much the tool of the welfare state as it is of communism. The programs and edicts of both are backed by the police force. All of us know this to be true under communism, but it is equally true under our own brand of welfare statism.
Leonard ReadThere is no moral distinction between petty thievery and 'from each according to ability, to each according to need.'
Leonard ReadThe right way is the greatest gratifier of human wishes ever come upon - when allowed to operate. It is as morally sound as the Golden Rule. It is the way of willing exchange, of common consent, of self-responsibility, of open opportunity. It respects the right of each to the product of his labor. It limits the police force to keeping the peace. It is the way of the free market, private property, limited government. On its banner is emblazoned Individual Liberty.
Leonard Read