What historical evidence are they looking at?
https://en.wikipedia.org/wiki/Pecora_Commission https://en.wikipedia.org/wiki/Albert_H._Wiggin
On a tangent, I really loath Cato's hand-wavy libertarian claims pieced together with weak arguments in their writing pieces.
It's propaganda. They're compelled to push libertarianism with the strongest arguments they can muster. The problem is society has figured out many areas where libertarianism had serious problems, so the strongest arguments are necessarily weak and misleading.
There's very few actual libertarian voices anymore, so I think just for sparking conversation it's good. Whether you are left or right, or even western or eastern, conservative or liberal, in 2024 there is basically agreement that government needs to fix things and government should have more control. Bureaucracy is increasing everywhere. Everyone is doing deficit spending.
There's almost no one mainstream that is actually advocating for less government. Dems in the US might accuse the republicans of wanting less, but I find it hard to find evidence republicans have done any reduction in government since Reagan, and even he did quite little.
There are parts where I think libertarianism makes sense but financial control isn't one of them.
> in 2024 there is basically agreement that government needs to fix things and government should have more control.
Agreed. I think there needs to be a better control of who controls the government though.
We don't need further advocates for bad policy just for the sake of it.
Clearly there are bad ways to do it, and it’s risky, and hard, but calling it outright bad policy is wrong. It could be great policy if done well.