 In Free to Choose, Friedman argues that, when the state attempts to centrally plan, ordinary citizens “have a low standard of living” (Friedman &amp; Friedman: 54–5). The market, on the other hand, has “the remarkable power of raising material standards quicker than any other” system, while preserving freedom (Butler 1985: 197). Hayek (1978: 67) emphasizes that capitalism preserves competition, which he sees not as a means of reaching a market-clearing price but as a “discovery procedure” for generating new ideas and innovations. Buchanan tends to focus on the argument that markets provide people with better incentives than those faced by government officials. Because