“One of the great mistakes is to judge policies and programs by their intentions and not by their results.” — Dr. Milton Friedman
The free market has long been recognized as one of the best methods for consumers to get a wide variety of choices, while at the same time the competition for the consumer dollar incentivizes producers and sellers to offer the best possible value for the price.
Free market advocates have demonstrated that, all too often, interventions in the market such as tariffs, regulations, taxes, and so forth – imposed with the best of intentions – not only rob the consumer of choice but increase the ultimate cost of goods and services.
As Milton Friedman liked to point out, such interventions frequently resulted in outcomes exactly the opposite of what was intended by those advocating the interventions. In short, the law of unintended consequences operates to frustrate those …