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A “mixed economy” is a society in the process of committing suicide.
If a nation cannot survive half-slave, half-free, consider the condition of a nation in which every social group becomes both the slave and the enslaver of every other group. Ask yourself how long such a condition can last and what is its inevitable outcome.
When government controls are introduced into a free economy, they create economic dislocations, hardships, and problems which, if the controls are not repealed, necessitate still further controls, which necessitate still further controls, etc. Thus a chain reaction is set up: the victimized groups seek redress by imposing controls on the profiteering groups, who retaliate in the same manner, on an ever widening scale.
Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others. By what criterion of justice is a consensus-government to be guided? By the size of the victim’s gang.
If parasitism, favoritism, corruption, and greed for the unearned did not exist, a mixed economy would bring them into existence.
Since there is no rational justification for the sacrifice of some men to others, there is no objective criterion by which such a sacrifice can be guided in practice. All “public interest” legislation (and any distribution of money taken by force from some men for the unearned benefit of others) comes down ultimately to the grant of an undefined, undefinable, non-objective, arbitrary power to some government officials.
The worst aspect of it is not that such a power can be used dishonestly, but that it cannot be used honestly.