The Free Market Made America Great

The free market is simply the freedom of every individual to engage in any business activity as long as they do not initiate force or fraud against any other individual. For example, every individual has the right to enter into a business agreement with one or more individuals, and every individual has the right to opt out of any business agreement in accordance with the rules in the agreement. Of course, opting out of a business agreement in violation of any terms in the original agreement would be fraud.

Americans once understood and championed free markets because Americans once understood and championed individualism, which is the freedom of every individual to engage in any activity as long as they do not initiate force or fraud against any other individual. The free market is thus a subset of individualism. If one has enough compassion and respect for individuals that one champions individualism, then one also champions the free market.

Although one could conceivably champion the free market while simultaneously advocating for restrictions on non-economic personal activity, I am unaware of any such individuals in America or Europe. Although, parts of Asia are increasingly going that way, but let’s not get sidetracked.

The free market made America great, but government intervention is destroying America.

Why is the Free Market so Great?

Government redistributes wealth – the Free Market creates wealth.

The Free Market is not a zero sum game – Government is the zero sum game.

Government redistributes the same pie – the Free Market makes a bigger pie.

Government authority is force – Free Market authority is reputation.

Government rewards failure – the Free Market rewards success.

Government is a monopoly – the Free Market is unlimited competition.

Government is out of control – the Free Market is self regulating.

In a Free Market, if you don’t want a product or service, don’t buy it. If you absolutely must have it, you can choose from any provider. Now, try opting out of Social Security, or try choosing a different provider of Social Security.

The Free Market rewards those who are most helpful to others.
Huh?
Well … if you offer a product or service that others find helpful, then they will be willing to trade you some of the fruits of their own labor for it, the more helpful your product or service – the more they will be willing to trade, and the reason they have something to trade is because they offered a product or service that other helpful people found helpful. Hence, the Free Market rewards the most helpful.

The free market made America great, but government intervention is destroying America.

Why does the Free Market seem broken?

Well that’s easy. Government intervention!

The Free Market is burdened with millions of pages of regulations, political correctness, taxes, corrupt unions, fiat currency, government deficits, and government contracts/deals for the few favored corporations. It’s a wonder America still has any businesses left – other than the ones who are in bed with the government.

Crony capitalism is not possible without government. Disaster capitalism is not possible without government. The ascendancy of style over substance is also the result of government.

Those who think that businesses control the corridors of government power are the ones who want to control businesses by expanding those corridors of power!

The free market made America great, but government intervention is destroying America.

What about the SEC?

Of course you shouldn’t trust Wall Street without a sufficient guarantee. That’s just a universally rational reaction to universal human nature. You should never trust anyone with the fruits of your labor without a sufficient guarantee.

So, how can big government make Wall street safe for the little guy? Well … that’s the big government fallacy isn’t it? The most basic charter of any government in existence includes punishment of any initiation of force or fraud, and if the little guy feels that government is not sufficiently punishing initiations of force or fraud by Wall Street then he needs to do two things: 1) Don’t do business with Wall Street, and 2) Vote for honest candidates.

In a free market, if the little guy doesn’t feel safe interacting with Wall Street, then he should simply not interact with Wall Street, and then in a free market, Wall Street would eventually decide, “We should form an independent consortium that can audit all of us against standards we all agree upon and publish. Then the people will increasingly have results that prove investment is safe for the little guy.” Wall street might even form several such competing independent consortiums. Wall Street might even cooperate with several outside organizations. The rules and their transparency will evolve to attract an ever larger customer base.

In a free market, innovation never ends.
In a free market, the incentive to please customers never ends.

Instead of a free market, consider that big government decided to force Wall Street to be safe for the little guy by forming such ostensibly independent organizations, such as the SEC, that can not only audit Wall Street, but which can also enforce millions of pages of regulations on them.

Now, after more than 75 years, how’s that big government working out for you?

The free market made America great, but government intervention is destroying America.

Jim
 

>