The less a government interferes, the less it tries to thwart market forces, and the less it tries to smooth out the peaks and troughs of economic cycles, the more economic stability there will be. Recessions in one industry will be matched by booms in another. Resources and personnel will move freely—according to supply and demand—and the illusion of job security will be replaced by the reality of an abundance of available jobs.

This article is an extract from the book ‘Principles of Good Government’ by Matthew Bransgrove