It’s Hard to Be Consistent

After Alfred Kahn succeeded in leading the effort to deregulate the airline industry, he apparently received some complaints about some of the results of deregulation:

When Senator Barry Goldwater, the 1964 Republican presidential candidate and author of the bestselling Conscience of a Conservative, wrote him to complain about unpleasant conditions aboard now-packed flights, Kahn replied that this was the inevitable consequence of breaking up a “cartel-like regime.” He added, “When you have further doubts about the efficiency of a free market system, please do not hesitate to convey them to me. I also warmly recommend some earlier speeches and writings of one Senator Barry Goldwater.” (p. 382)

Yergin, Daniel, and Joseph Stanislaw. The Commanding Heights: The Battle for the World Economy. New York: Simon & Schuster, 1998.
The results of the free market combine the preferences and actions of all of the participants in the market. So even the most fervent advocate of the process, will inevitably find some of the results distasteful or unpleasant. But the advocate should try to be consistent for two reasons. Primarily, because the free market embodies free choice, and free choice is morally good. Secondarily, because the free market produces more good results than any other process.

Leave a Reply

Your email address will not be published.