The conservative case against free markets is based on the belief that if change disrupts the status quo in any way, or if companies impose cost reductions that result in a shifting of employment — or even some layoffs — then government should step in and take control.
Why should we think that government officials are better at acting “rationally” than those they regulate? Even if we were to concede that smoking deserves to be restricted, why should we think the government can do it in a reasonable way?
After decades of Cold War spending, the US had to find a way to keep its massive war budgets and domestic spending going without ruining the dollar. Controlling the flow of dollars spent on oil turned out to be a fix.
