Boyd

If I don’t like ice cream Brand A, I don’t need to have a theory about why it tastes bad. I just need to be able to try Brand B. But if the government tries to improve on Brand A, the political decision maker—whether the voter or an “expert” legislator or bureaucrat—has to have the right theory about how to make the best ice cream. This is too much to ask of any given human being. Markets throw fallible entrepreneurs’ different theories of what makes for the best products open to a process of competition in which the consumers is king—but in which consumers don’t have to be knowledgeable or logical kings in order to rule well.