Regulations, Subsidies, and Risks

If Libertarians and free market conservatives really want to make a case against regulation and subsidies, they can't just say it's bad. They have to say why it's bad. So here's why it's bad.

Regulations and subsidies distort and hide the natural risks associated with that activity and encourage people to participate without full knowledge of the risks. Sooner or later, those risks will reappear in different forms with more consequences and damages than if they were undistorted and more visible to the participants.