Who decides what’s “fair?”

We’re from the government, we know everything, and we’re here to make international trade “fair.”

From Cafe Hayek:

First, there’s no reason to suppose that even saintly government officials possess, or could possibly obtain, the knowledge necessary to obstruct in welfare-enhancing ways their fellow-citizens’ trade with foreigners.

Second, there’s no reason to suppose that even stupendously well-informed government officials would, when obstructing their fellow-citizens’ trade, act to promote the general welfare rather than to promote the welfare of special-interest groups.

Third, there’s no reason, if government officials are to be trusted with such extensive powers as you desire, to limit the exercise of those powers only to economic change sparked by trade that crosses political borders.

RTWT

See also: A Failure to Adjust, a long, well documented, explanation of the results of assuming complete knowledge, while complaining that “better complete knowledge” would prevent the problems.

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