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07/18/2005 Archived Entry: "Economic Lessons of Bicycle Racing"

ECONOMIC LESSONS IN BICYCLE RACING

Guest blogger Silver here.

Jim Fedako, a former professional cyclist, draws some interesting lessons from the Tour de France bicycle race. Free Riders: Austrian v. Public Choice contrasts the one-size-fits-all assumptions common to all government violence to the reality that we don't even know why most of the racers are participating. Does anyone think that all 197 racers truly believe that they have the slightest chance of defeating Lance Armstrong? The beauty of the Austrian School's approach is drawing useful conclusions, using logic and reasoning, while acknowledging that the motives of each economic actor can never be known.

"Public choice," "externalities," "free riders," and "market failures" are code words used by those who favor government violence against the choices and actions of free men and women. Free people should spot and challenge these dangerous memes whenever they are encountered. As Mr. Fedako shows, the counter examples are all around us, every day.

Posted by Silver @ 09:14 AM CST
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