David Friedman’s Substack • 287 implied HN points • 04 Jan 26
- Declaring that free competition must end in monopoly and push societies toward collectivism ignores how organizational diseconomies and market structure usually limit firm size, and postwar experience shows markets avoided the predicted catastrophes.
- Claims that empire was primarily a money-making engine and that losing colonies would ruin a nation's living standards are contradicted by decolonization and cross-country comparisons; likewise, dismissing a writer without reading their major works leads to poor literary judgments.
- Confident political prophecies about wars, allies, and atomic-era outcomes are often wrong when history unfolds differently, but intellectual honesty and the willingness to praise opponents remain valuable traits.