What is the proper role and function of a government is an important question. Should the government intervene in the economy to help the poor, to provide education, healthcare, produce public goods, reduce inequality, and a few hundred different activities?
That question has been asked and answered variously by a variety of people. As a classical liberal economist, my position is quite simple to state: I don’t want the government to intervene in the economy at all.
I believe that we should have something analogous to the “wall of separation between the state and the church” (see the 1st Amendment to the US constitution) in the constitution which expressly prohibits the government from interfering in the economy. Continue reading “What Should Governments Do?”