The left has a hard time applying economic analysis to problems except the drug war. And the right is fairly good at economic analysis (comparatively) except for the drug war. Drugs makes the left smarter and the right stupider. Interesting, no?

Capitalism applies selection pressure in the right direction - efficiency, waste reduction, etc. Socialism (government) applies selection pressure (the process Schumpeter referred to as creative destruction) in the wrong direction.

I'm a libertarian - but not an absolutist - I believe in a minimal safety net - but it should not be comfortable. And why do I believe in a minimal safety net? Because revolutions are bad for business.

Here is the Joseph Schumpeter book that made his reputation: Capitalism, Socialism and Democracy.

Cross Posted at Power and Control