In various countries around the world, assets that had previously been in the hands of governments were sold off to the private sector in the hope that this would lead to a more efficient allocation, that these assets would be put to better use.
From Eric Maskin
A properly designed tax system can strike a balance between helping the poor and, at the same time, giving people the incentive to work.
Prediction is certainly a valuable goal in science, but not the only one. Explanation is also important, and there are plenty of sciences that do a lot of explaining and not much predicting.
Through meteorology, we know essentially how hurricanes form, even though we can't say where the next storm will arise.
Perhaps one day earthquakes, hurricanes and financial crashes will all be predictable. But we don't have to wait until then for seismology, meteorology and economics to become sciences; they already are.
The market is no god - it cannot solve every problem.
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