Share on Facebook Share on Twitter Comment on this quote Share via Email Print this Page [1-2] of 2 Arnold Kling quotesArnold Kling QuotesArnold Kling When government will expropriate any wealth that people create, the present value of future output can actually be less than the value of the country's tangible resources. The power of predatory government to destroy wealth is truly awesome.~ Arnold Kling In a free market, consumer sovereignty and competition tend to create instability when sellers learn to game the system too well... In a technocratic system, it is more difficult for consumers to exercise countervailing power. Innovative competitors are often precluded by regulation. Suppliers tend to apply concentrated lobbying power to protect their interests, while the diffuse interests of the consumer are poorly represented in the political process. ... Centralized, regulated systems look good on paper, and they may be effective as they start. However, market systems learn faster, because competitive innovation prevents a market from getting captured by the incumbents who have learned how to game the system.~ Arnold Kling Share on Facebook Tweet Email Print