The future is impossible to see or calculate. This has been proven through the market by not empowering fortune tellers and palm readers. Economic calculation of future events is similarly impossible. Error after error has shown the mistakes of economic calculation. Why does then it persist? Because the free market is not involved in the process. No one is replaced in the government for making mistakes on budgets. There is no profit incentive. Without the incentive, any number is thrown out to satisfy particular groups or political motivations. The incentive of coercion is the only extant incentive in politics. With coercion, the act of theft and misinformation about the future is proliferated to the masses.
Wednesday, January 18, 2006
from todays Mises Daily Article (sorry, can't get the link right now):
Posted by Al at 10:11 AM