Daniel J. Mitchell

No, this post is not about that kind of fantasy.

Instead, we’re dealing strictly with public policy and specifically addressing whether the libertarian agenda is unrealistic.

This is because when I talk to people about libertarianism, they often will say something mildly supportive such as: “I like the idea of getting government out of my wallet and out of my bedroom.”

But then the other shoe drops and they say something skeptical such as: “But you folks are too idealistic in thinking the private sector can do everything.”

If you ask them to elaborate why libertarian ideas are fantasies, you’ll usually hear comments such as:

“Libertarians are crazy to think that we can replace Social Security with personal retirement accounts.” Apparently they’re unaware that dozens of nations including Australia and Chile have very successful private systems.

“Libertarians are silly to think that money could be handled by the private sector.” Apparently they’re unaware that paper money was a creation of the private marketplace and that competitive currencies worked very well in many nations until they were banned by governments.

“Libertarians are naive to think the mail could be delivered in the absence of a government monopoly.” Apparently they’re unaware that many nations such as the United Kingdom and Germany have shifted to competitive private mail delivery.

“Libertarians are foolish to think that the private sector could build and maintain roads.” Apparently they’re unaware of what I’m going to write about today.


Daniel J. Mitchell

Daniel J. Mitchell is a top expert on tax reform and supply-side tax policy at the Cato Institute.
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