"We have a basic choice to make: either each of us chooses for ourselves (classical liberalism) or government chooses for us (or to put it otherwise, we all choose for each other)."
If the latter, the historical experience observed by Hayek in the 1930s is:
"Government allocation of economic resources led in the short run to budget deficits, in the medium run to inflation and monetizing the debt, and in the long run dictatorship that imposed a standard of values on society (and totalitarian impulses designed to brainwash people into to subordinating their own preferences to the preferences of the collective). A corollary is that when government allocates resources, rent-seeking and influence peddling become endemic to the system of trying to get your needs met rather than someone else’s."
We are seeing the problem now. The solution must be a trend to smaller government that is less likely to take away your choice.
