Wednesday, January 12, 2011
The Frailty of Big Business
Johnathan Pearce at Samizdata notes some good observations by author Matt Ridley (The Rational Optimist: How Prosperity Evolves) about how businesses succeed or fail over time based on how well they serve their customers while no government agency, however incompetent, ever goes out of business.
Related: Also at Samizdata; Brian Mickelthwaite posts as Samizdata Quote of the Day, a quote from Professor Steven G. Horwitz on what can happen when corporations can co-opt government to rig the rules to favor themselves and reduce competiton, i.e., rent-seeking.
Read both of them.