Sunday, September 6, 2015

Free market not working!?

Well, I am stumped. Despite my usual libertarian ways, I can't really think of a good reason for why I am happy that the Smithsonian museums are free. By "libertarian" I mean keeping government as small as possible while not letting the market fall apart. This means that government will simply enforce laws and such so that private citizens can carry on life peacefully. But the Smithsonian received $819.5 million of federal government money for 2015, and that isn't necessary to keep the market going. So my positive feelings leave me wondering what I could learn from this apparent contradiction in my beliefs.
It could be that I am simply self-interested and happy that since I am in D.C. I receive the benefits of that money that people all over the U.S. are contributing. Or perhaps it is that I don't think that the on average $7 per tax payer really bothers anybody, and most of those people would be happy to donate that much money to such a good cause anyway.

It could also be that there is a positive externality involved, but I am struggling to see the third party that benefits. I bumped into a nice local man who said that he hits up all the museums, and I think that he receives most of the benefit, but perhaps it makes him more jolly and a blessing to those around him, although that logic could be applied to a lot of markets.

I suppose, however, that if museums were run privately with fees and/or donations then museums could be run even more amazingly, so I certainly won't throw the free-market philosophy out the window.

Perhaps what can be learned is that economic theory does not answer all of life's questions immediately. Or that I don't fully understand economic theory. Okay fine, both of those things are certainly true. As things are currently, I am quite happy, and will try to just feel grateful : )

Scriptures about not understanding: 2 Nephi 28:30 we learn a little at a time, James 1:5 ask God
Scriptures about being grateful: Psalms 26:7 wondrous works, D&C 136:28 dance!

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