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To: Moominoid who wrote (91868)	12/22/2008 9:11:49 AM
From: skinowski	Read Replies (1) \| Respond to of 116555

public goods like environmental quality Your point is well taken, however in today's world - at least, in the developed world - that's no longer an issue. No one argues against protecting "public goods" like the environment. Such protections are part of the legal infrastructure - along with things like respect for contract, protection of individual's rights, defence against crime, etc. True governments failure occurs when it fails to maintain a society which would be an attractive place to conduct business. If you examine failed nations, they all have one thing in common - individuals have too few rights and too little power, and governments have to much. When a government takes on too much power, it will cause bad outcomes - and fail - every time. When governmental elites buy enterprises on money borrowed on behalf of the taxpayer - and retain control to themselves - they set us up for larger failures. Same for (probably permanent) subsidies to those who are uncompetitive.