"The liberal argument is in favor of making the best possible use of the forces of competition as a means of co-ordinating human efforts, not an argument for leaving things just they are. It is based on the conviction that, where effective competition can be created, it is a better way of guiding individual efforts than any other. It does not deny, but even emphasizes, that, in order that competition should work beneficially, a careful thought-out legal framework is required and that neither the existing nor the past legal rules are free from grave defects. "
"The functioning of a competition not only requires adequate organization of certain institutions like money, markets and channels of information - some of which can never be adequately provided by private enterprise - but it depend, above all, on the existence of an appropriate legal system, a legal system designed both to preserve competition and to make it operate as beneficially as possible."
"To create conditions in which competition will be as effective as possible, to supplement it where it cannot be made effective, to provide services which, in the words of Adam Smith, "though they may be in the highest degree advantageous to a great society, are, however, of such nature, that the profit could never repay the expense to any individual or small number of individuals," - these tasks provide, indeed, a wide and unquestionable field for state activity. "
Hayek (1944), "The Road to Serfdom", chapter 3, "Individualism and colletivism"
Dessa forma, em termos gerais, um libertário ou liberal clássico não veria problemas em preconizar políticas públicas que melhorassem o funcionamento de mercados e expandissem liberdade, seja dentro de um determinado conjunto de instituições ou dentro de um contexto de reformas institucionais. Assim sendo, economistas da vertente libertária também podem apoiar medidas de política de Bancos Centrais desenhadas para amenizar os efeitos da crise financeira e melhorar o funcionamento dos mercados financeiros. Mas isso significar dar uma carta branca ao Bernanke?
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