Here is a principle to use in all aspects of economics and policy. When you find a good or service that is in huge demand but the supply is so limited to the point that the price goes up and up, look for the regulation that is causing it. This applies regardless of the sector, whether transportation, gas, education, food, beer, or daycare. There is something in the way that is preventing the market from working as it should. If you look carefully enough, you will find the hand of the state making the mess in question.

There is no difference between the principles, policies and practical results of socialism-and those of any historical or prehistorical tyranny. Socialism is merely democratic absolute monarchy-that is, a system of absolutism without a fixed head, open to seizure of power by all corners, by any ruthless climber, opportunist, adventurer, demagogue or thug.

And yet even among the friends of liberty, many people are deceived into believing that government can make them safe from all harm, provide fairly distributed economic security, and improve individual moral behavior. If the government is granted a monopoly on the use of force to achieve these goals, history shows that power is always abused. Every single time.

Foolish man, what do you bemoan, and what do you fear? Wherever you look there is an end of evils. You see that yawning precipice? It leads to liberty. You see that flood, that river, that well? Liberty houses within them. You see that stunted, parched, and sorry tree? From each branch liberty hangs. Your neck, your throat, your heart are all so many ways of escape from slavery … Do you enquire the road to freedom? You shall find it in every vein of your body.

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