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Sunday, May 8, 2016

George Reisman on how govt. interference destroys the moral fabric of business

"The government’s ability to violate freedom gives it the power to provide businessmen with subsidies and to damage their competitors. This creates corruption of a much worse character, one in which businessmen are led to offer bribes not to defend what is theirs by right, but as part of an act of depriving others of what belongs to those others by right. Few businessmen are moral philosophers, and those who may have begun their practice of bribing government officials in order simply to avoid harm to themselves cannot be counted upon always to keep in mind the distinction between an act of self-defense and an act of aggression, especially when they must operate increasingly in the conditions of a virtual jungle, in which competitors are prepared to use the government against them and in which large and growing numbers of other businessmen are all too willing to gain subsidies at their expense. The result is a powerful tendency toward the destruction of the whole moral fabric of business." ~ George Reisman in Capitalism

(Source: Capitalism by George Reisman; Chapter: Economics and Capitalism)

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