“Nothing would promote the long run health of the steel industry, make it into a more efficient, profitable and productive industry than for the U.S. government to keep its hands off, neither providing special privileges nor imposing special restraints.”
– Milton Friedman.
Obviously, based on modern times Tarrifs are gonna be the ones more focused on, but what I’ve been noticing, is that it’s almost like an unseen aspect of economics in the circles that I’m in, even in the libertarian sub reddits we talk about mostly Tarrifs, but why don’t we focus as much on the special restraints and post on in various industries and markets by the government nearly as much? I feel like that could potentially be more harmful, I’m not advocating for Tarrifs whatsoever, but if we’re gonna remove tariffs, shouldn’t we also remove the special restraints? The red tape, over taxation, making essential commodities like oil more expensive, compliance costs, etc.
I personally want corporate tax rates at 2.5%, that 2.5% only used to fund the institutions that promote the long run growth of society. i’m essentially asking a supply side economic question, so why don’t we talk about special restraints as much as we do with protectionism?
Why don’t we focus on special restraints as much as we do with special privileges?
byu/LibertyEconlover inAskEconomics
Posted by LibertyEconlover