well what they provide has intrinsic value (or at least PERCEIVED intrinsic value)
Even if it's just perceived value, certainly at some point perception is reality.
can you put a number on defense? security of markets? social stability offered by a welfare state? it becomes difficult
your average perso certainly can't assign these values
No individual can do that. Certainly a market can, though. And the freer the market, the more efficient it will be at pricing that. Perhaps in a world of shrinking governments, the populace will finally accurately purchase the optimal amount of defense, welfare, etc. that is necessary.
As it stands now, our system is self perpetuating in a chicken and egg kind of way. For instance, the military is big and strong because of the ability to inflate the dollar. But in order to protect the dollar as a world reserve currency which protects the ability to inflate, the military needs to be big and strong.
This post was edited on 4/28 at 3:22 pm