Most public policy discussions are really about basic economics. If we just got rid of the policies that cut against basic economics, then the lives of millions would be improved around the globe. And when I say basic economics, I mean the most basic things — like price controls on food products, or restrictions on trade, or regulations on entry. We haven’t begun to get into the refinements of monetary or fiscal policy. Just the first few weeks of Econ 101 and yet we see policies throughout the world that prove to be detrimental to the lives of so many continue to be implemented by governments (both left and right, and democratic and non-democratic). If only we could pick off the low hanging fruit of public policy, then much misery would be avoided.
Peter Boettke, sobre Richard Epstein.