The Free Market

Man is self interested.  This may, or may not, cause concern.

In the history of all the world, man has been most prosperous when he has been most free.

Free to own property.

Free to sell his labor.

Free to sell his products.

Free to sell his land.

Only in those places where government restricts man’s ability to engage in free trade is he most enslaved.

Vote Obama.  Vote dependency.  Give away your life.

6 responses to “The Free Market

  1. You’re wrong. The best economies and the most freedom now exists in Scandinavia and northern Europe, where even conservatives support basic rights to health care. Moreover, it was deregulation and lack of government oversight that helped lead to our current crisis, something I called the failure of the free market experiment: http://scotterb.wordpress.com/2012/03/29/the-failure-of-the-free-market-experiment/

    What you’re wrong on is to go to extremes. Obama isn’t offering dependency, his vision isn’t that much different than Romney’s. He wants to help create opportunity and make sure that the powerful can’t rig the game. You’re falling for ideological over simplifications and extreme rhetoric. That’s not reality. The way the right tends to demonize a centrist Democrat like Obama is over the top — and will fail in November.

    • Scott wrote, “…deregulation and lack of government oversight that helped lead to our current crisis…”

      I look at the “current crisis” as proof that markets correct themselves. Many (most) Americans were too wrapped up in the real estate and Wall Street bubble to even notice that there was a problem. The bubble burst, and we fell back to reality. How much worse would things have been if our government, through regulations and subsidies had allowed the bubble to grow another ten years before bursting?

      Scott also wrote, “…make sure that the powerful can’t rig the game.”

      Some how we are made to believe that only the rich are able to “rig the game”. I worry more about the poor that also rig the game. My concern is primarily due to the fact that there are more poor than rich. I would rather have one wealthy person “legally” defraud investors out of 100 million dollars than to have ten million working poor weasel an extra $2000 from our government.

      • How much worse would things have been if our government, through regulations and subsidies had allowed the bubble to grow another ten years before bursting?

        You can see it now; the government continues to prop up homeowners who should declare foreclosure.

        I would rather have one wealthy person “legally” defraud investors out of 100 million dollars than to have ten million working poor weasel an extra $2000 from our government.

        I don’t wanna see anyone game the system. But if the system that helps most people also creates an uber-wealthy, I’m okay with that.

        By the way, I make a living well beyond what I ever thought I would. I have ZERO influence and no ability what so ever of rigging the system.

    • You’re wrong. The best economies and the most freedom now exists in Scandinavia and northern Europe

      I agree that America is no longer the most Free. This is sad.

      Moreover, it was deregulation and lack of government oversight that helped lead to our current crisis

      You are wrong. It was government involvement that caused the crisis and has extended it.

      Obama isn’t offering dependency

      He doesn’t THINK he is, but that doesn’t change the fact that he is.

  2. Henry, I try to look at questions like this in a comparative perspective. I don’t look to theory or ideology, but rather compare to other countries and other conditions. It’s clear that countries that deregulated the most and emulated the US (esp. Ireland and Iceland) suffered the most. Countries who were more “conservative” in that they kept regulations in place and avoided too much faith being put in the market (Scandinavia and Germany) have done the best in this crisis. I don’t think the bubble burst and we’re “back to reality.” I think the last thirty years have had increasing imbalances that are only starting to be addressed.

    The poor don’t have the power to rig the game. They are poor. If they get aid, it’s not much — and sometimes it does more harm than good. If they could rig the game, they’d not be in the position they’re in! But on every issue – health care, taxes, etc. — I try to look at what other countries are doing, what works there, what works here, etc. To me there is too much ideology and abstract theory on both the left and right. Ideology is a vast oversimplification of reality that leads to error. I prefer pragmatic problem solving. And when I look at the US, compare and consider, I think the right is correct that we have too much debt and many social welfare programs don’t work. I think they’re right to worry about dependency on government, and to warn about the sustainability of entitlement programs. I think the left is right to worry about the increasing maldistribution of income (that usually leads to unstable politics), the cost of the recession being born mostly by the poor and middle class, and the lack of opportunity people have if they don’t get health care and basic needs met. Alas, it appears moderates from both parties (including my Senator Olympia Snowe, who I have voted for) are giving up due to the partisanship.

  3. Scott,

    Your regulation argument is interesting . I would say that countries whose governments consciously used the housing sectors to power their economies were the ones who blew up. Comparing America and Canada is more relevant . Canada did not have a fannie , freddie, or a Barney . View the following video and then tell me how government had no hand in the housing debacle .

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