Regulations and taxation are strangling our economy. Like the kudzu growing in the hills around my home, red tape grows and grows leaching nutrients from the economic soil and blocking the sun that is needed for new businesses and ventures to grow.
From The Heritage Foundation
This column comes from Larry Kudlow and he basically endorses Trump. We at ACC do not endorse candidates and we never will. But the overall point Kudlow makes is terribly important so we are going to run the article anyway.
We need to overthrow the current economic establishment. It has failed, horribly. Globally we limp along, that is unless one is in South America and some other parts of the globe where the economy is barely moving at all.
All I can say is we made the case for making Detroit an economic “free zone” back in October 2012. Not that “free zones” are our idea. Free market/price advocates have made the case for them for years. It’s good to see the idea getting some real political traction.
Free up places which are disasters. Make them business friendly. Lower or eliminate taxes. Let people innovate. Many of our cities have little to lose at this point. Other than a rigid fear of free markets why wouldn’t one want free zones in areas of economic despair?
Menos Marx. Mais Mises.
Let freedom ring in Brasil.
Not high enough I am afraid and we have been declining under Obama.
This should be the freest place on earth. Economic freedom is built into our DNA. This is supposed to be the land of opportunity.
Some people in this country seem to have forgotten this however. They appear to have given up and would instead choose to embrace an all encompassing, paternalistic, suffocating welfare state which restricts opportunity, creates economic and social strata which are highly rigid,
An excellent piece of history here. Sweden became an economic leader because of its long commitment to liberal markets and free trade. The wealth created from this free market situation (more free market than the US at the time according to the author) was then taken for granted and many believed that this wealth could be used to finance a cradle to grave welfare state. Turns out wealth needs to be generated on an ongoing basis and regulating commerce into oblivion is not a prescription for long term prosperity.
This is one of the main points we try to make. Entrench cronies in an ever expanding and controlling government and watch opportunity diminish, the economy stagnate, and people lose hope.
Economies need to be free to create opportunity. Managed economies relegate people to economic castes. Still, some people do not understand this. They truly believe that increased government intervention in the economy is somehow good for people in general. They are very wrong. They are tragically wrong.
Sweden isn’t some sort of Shangri la. It’s cold. It’s dark. It has high rates of depression. Economic freedom levels are low. Taxes are high. And relative to most states in the USA Sweden is poor. Like Arkansas poor.
On the other hand it made Saabs, which I always liked. (Before GM took them over.)
Since I write about capitalism and crony capitalism and government and business every day I have the opportunity to read quite a lot about these subjects from various perspectives. I read libertarians, and conservatives, and liberals, and progressives, and just about anyone else who is interesting. I read the comments here at ACC, and at sites all over the web.
One of the things I am fascinated by is the degree to which some people are seriously afraid of free enterprise,
Seems obvious to many of us but still there are many who don’t understand that liberty leads to greater human actualization. This actualization leads to a more satisfying life generally.
Regular readers of ACC are aware of the current battle surrounding the reauthorization of the Export-Import Bank of the United States. We believe, along with many others, that Ex-Im is great example of crony capitalism which should be euthanized by a Congress which professes to be for free markets and small government. Whether this will actually happen is an open question however as the bank serves some of the heaviest hitters in corporate America, Boeing chief among them.
The wealth of nations has increased by astronomical amounts over the last 2 decades. Literally billions of people have been brought out of poverty thanks to economic freedom. It is as if once the Soviet Union died, once the scourge of international socialism was utterly and completely decimated both economically and intellectually, humanity couldn’t help but lurch forward.
We couldn’t be more for this. In fact, last year we suggested a very similar idea. We said: