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#200 – Michael Malice: Totalitarianism and Anarchy
Lex Fridman Podcast
The Fundamental Property of the State
The state does not have access to data the way that firms do. If prices are set by the government, which the government is a monopoly, I have no way of picking those winners or losers. So the price is a really strong signal that allows you to operate a voluntary collective where people get what they want and don't get what they don't want. And it tells me what to produce, what not to produce.
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