Defense of Free Markets - Granite Grok

Defense of Free Markets

Defense of Free Markets

There has been way too little defense of free markets. There are many ways in which business elevates humanity. Capitalism is based on doing things for others, things others find value in. Innovation and value creation are inherent in free-market capitalism.

What socialists refuse to recognize is capitalism has led to astonishing growth. It is responsible for real, measurable human progress. It has brought literally billions of people from a world of near-universal poverty to unprecedented prosperity.

Current global economic difficulties caused by the coronavirus pandemic are rampant. Yet it’s undeniable, we live in a Golden Age of economic progress. People today enjoy longer lives than ever before. We are enjoying significantly better health. Today we have a level of living standards simply unthinkable just a few generations ago.

Accomplishments matter

The real brilliance of free-market capitalism has always been the same. Countless individuals and private enterprises exercise freedom to pursue their own ideas and dreams. In doing so, they have made possible previously inconceivable heights of economic progress. The progress benefits all of us.

Billions of people around the world have escaped poverty because of capitalism. Since 1995, that progress has been documented. Annually the Heritage Foundation’s Index of Economic Freedom records the results. There has been way too little defense of free markets.

Business is not a zero-sum game struggling over a fixed pie. That would be a misunderstanding of economics. Instead, when business grows and makes the total pie larger. Value is creation occurs and it accrues to all those using the products, those making the products and the greater community.

The U.S. is an extraordinary country by almost any measure. We should once again embrace the principles of individual and economic freedom. They made us both prosperous and exceptional. In doing so America helps lead the world toward a better future for all.

Alternative analysis

There is an alternative. Its name is socialism and it is grim. The description of Socialism is “trickle-up poverty.” We’ve recently told a bad narrative. We’ve let the enemies of business and capitalism put out a narrative about capitalism that’s wrong. It’s inaccurate. We are allowing it to continue doing tremendous damage to the minds of young people.

It is time to counter that. If we do not the socialists are going to take over. That’s the path to a future of poverty. The world is wallowing in a recession. Millions are falling toward poverty because of virus lockdowns and attendant restrictions. Now is not the time to experiment with failed policies of collectivism and government control.

The opposite is true. Now is the time to preserve and enhance our economic freedom. Capitalism has to be more deeply rooted in the rule of law, limited government, and a functioning civil society. In a free society, there’s no shortage of private sector organizations.

They include churches, clubs, charities, and schools. They are ready to help those in need. There may be a role for governments, too, but it’s vital that governments resist the temptation to slow down economic progress through excessive regulations, taxes, and protectionist measures.

Sustainability is a buzzword for Socialism

Policymakers in Washington and around the globe cannot simply spend their way back into prosperity. There has been a terrible toll taken by public health responses on local economies. For a full recovery, it’s essential that economic freedom not be curtailed. We cannot expand government emergency powers. We do not need new government programs flowing from the false promises of socialism.

Economically free and dynamic societies can provide the effective response and resilience we need. Free market capitalism can help us in resurrecting our livelihoods. Using a conservative approach, using what we know has gotten results in the past and is what the world needs now. There has been way too little defense of free markets.

There are many ways in which business elevates humanity. Capitalism is based on doing things for others, things others find value in. Innovation and value creation are inherent in free-market capitalism. What socialist refuse to recognize is capitalism has led to astonishing growth. It is responsible for real, measurable human progress. It has brought literally billions of people from a world of near-universal poverty to unprecedented prosperity.

Current global economic difficulties caused by the coronavirus pandemic are rampant. Yet it’s undeniable, we live in a Golden Age of economic progress. People today enjoy longer lives than ever before. We are enjoying significantly better health. Today we have a level of living standards simply unthinkable just a few generations ago.

People working for themselves works

The real brilliance of free-market capitalism has always been the same. Countless individuals and private enterprises exercise freedom to pursue their own ideas and dreams. In doing so, they have made possible previously inconceivable heights of economic progress. The progress benefits all of us.

Billions of people around the world have escaped poverty because of capitalism. Since 1995, that progress has been documented. Annually the Heritage Foundation’s Index of Economic Freedom records the results.

Business is not a zero-sum game struggling over a fixed pie. That would be a misunderstanding of economics. Instead, when business grows and makes the total pie larger. Value is creation occurs and it accrues to all those using the products, those making the products and the greater community. There has been way too little defense of free markets.

The U.S. is an extraordinary country by almost any measure. We should once again embrace the principles of individual and economic freedom. They made us both prosperous and exceptional. In doing so America helps lead the world toward a better future for all.

Trickle up poverty

There is an alternative. It is called socialism and it is grim. Correct characterization of Socialism is as “trickle-up poverty.” We’ve recently told a bad narrative. We’ve let the enemies of business and the enemies of capitalism put out a narrative about capitalism that’s wrong. It’s inaccurate. We are allowing it to continue doing tremendous damage to the minds of young people.

It is time to counter that. If we do not the socialists are going to take over. That’s the path to a future of poverty. The world is wallowing in a recession. Millions are falling toward poverty because of virus lockdowns and attendant restrictions. Now is not the time to experiment with failed policies of collectivism and government control.

The opposite is true. Now is the time to preserve and enhance our economic freedom. Capitalism has to have deeper roots in the rule of law, limited government, and a functioning civil society. In a free society, there’s no shortage of private sector organizations.

Government is not a philanthropy

They include churches, clubs, charities, and schools. They are ready to help those in need. There may be a role for governments, too, but it’s vital that governments resist the temptation to slow down economic progress through excessive regulations, taxes, and protectionist measures.

Policymakers in Washington and around the globe cannot simply spend their way back into prosperity. There has been a terrible toll taken by public health responses on local economies. For a full recovery, it’s essential we not curtail economic freedom. We cannot expand government emergency powers. We do not need new government programs flowing from the false promises of socialism.

Economically free and dynamic societies can provide the effective response and resilience we need. Free market capitalism can help us in resurrecting our livelihoods. Using a conservative approach, using what we know has gotten results in the past and is what the world needs now. There has been way too little defense of free markets.

>