The debate about Freddie Mac and Fannie Mae has made me wonder about a more general question in economics. Are public / private chimeras generally less efficient (or, if you prefer this wording: do they make less-wise decisions?) than entirely government enterprises?
I am an eklektarchist not an anarchist.
Educational Pamphlet Mises Group
Perhaps they're more efficient in the production of bads.
-Jon
Freedom of markets is positively correlated with the degree of evolution in any society...
Jon Irenicus: Perhaps they're more efficient in the production of bads. -Jon
Or goods if you happen to receive their bribes - I mean campaign contributions.
One thing to take into consideration is the meaninglessness of the terms "private" and "public" in this connection. As Mises pointed out, there's "private" property under fascism, but it's so heavily regulated and controlled by the government that it effectively its direction is in its hands.
Jon Irenicus: One thing to take into consideration is the meaninglessness of the terms "private" and "public" in this connection. As Mises pointed out, there's "private" property under fascism, but it's so heavily regulated and controlled by the government that it effectively its direction is in its hands. -Jon
Good point and a "Government Sponsored Enterprise" is nothing if it is not fascist.