Doing nothing—putting stable policies in place to let people plan for the future—is best described as an argument for the rule of law, but it is risky politically (and even for economists) because the natural next demand is to 'do something,' which is only justified if it actually makes things better.

normativepending

Speaker

Larry White

Evidence Quote

which is an argument for doing nothing which is risky politically and even for economists and I call it an argument for the rule of law

Source

Larry White on Hayek and Money 02/01/2010EconTalk
Created: 6/17/2026, 10:31:20 AM

My Notes

Loading notes...