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News Link • Economy - Economics USA

The Individual Versus the State

•, By Robert Ringer

In the broadest sense, the debate boiled down to free-market capitalism versus government intervention.  I say broadest sense, because many readers stated, either directly or indirectly, that the government should only intervene "a little" when it comes to regulating business and helping people who do not have the means to fend for themselves.

In real terms, what government's helping "a little" equates to is a so-called mixed economy, which the late, great Henry Hazlitt meticulously explained, in Economics in One Lessondoes not work.  All Western countries have long had mixed economies — i.e., socialism mixed with just enough capitalism to keep tax revenues flowing to pay the welfare tab (both social and corporate welfare).

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