We have learned to understand interest-group politics; we no - TopicsExpress

We have learned to understand interest-group politics; we no longer have a romantic vision as to how the state operates. If we have not rediscovered, and do not rediscover, and understand the precepts of laissez faire, as organizing principles, it will be necessary to address that which we do know and have learned. If we know that politics fails and that its natural proclivity is to extend its reach beyond tolerable bounds, we may be led to incorporate constraints into a constitutional structure. Depoliticised economic order is within the realm of the politically-constitutionally possible, even if the accompanying faith in market organization is not fully regained. We can protect ourselves against the appetites of the monster that the Leviathan state threatens to become without really understanding and appreciating the efficiency-generating properties of the market. - James Buchanan, The Annual John Bonython Lecture [March 27, 1990]

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