Free Market

Ronald Reagan: Whatever Happened to Free Enterprise?

President Ronald Reagan
President Ronald Reagan

From the archived pages of Imprimis, the monthly speech digest of Hillsdale College, President Ronald Reagan reminds us that economic freedom is an absolute necessity not only for political freedom, but for all freedom. That freedom must be fought for and protected in every generation. That the business community must join this fight and not remain passive.

“It all comes down to this basic premise: if you lose your economic freedom, you lose your political freedom and in fact all freedom. Freedom is something that cannot be passed on genetically. It is never more than one generation away from extinction. Every generation has to learn how to protect and defend it. Once freedom is gone, it’s gone for a long, long time. Already, too many of us, particularly those in business and industry, have chosen to switch rather than fight.”

President Reagan clearly understood that government action is the biggest threat to our economic freedom and personal freedom. He correctly identified the government as the problem, not the solution: [Read more…]

Steve Wynn: No Common Sense in Washington

Steve Wynn
Steve Wynn

Steve Wynn, the American entrepreneur and casino resort/real-estate developer, was recently interviewed by CNBC for the opening of his new Encore Beach Club in Las Vegas. During the questions and answers session with the correspondent, the billionaire business owner addressed some of the most serious problems American companies face and the incompetent manner in which politicians in Washington, DC are handling the economic situation and the unpredictable manner in which they continue to aggressively punish US businesses.

In the interview Wynn talks about the lack of common sense that has disappeared in Washington and the completely out-of-control spending that is fueling the massive national debt:

“It’s common sense that’s disappeared in Washington DC. It’s common sense that’s disappeared in the years of 7 and 8 in America. We’re inheriting the awful results, both in our government … of wild, uncontrolled spending, unbelievable, unsustainable debt.

And yet, here we are, doing it again, $20 billion a month to the FHA. On top of what happens to Fannie Mae and Freddie Mac. We’re doing it again today for $20 billion a month! We’re destroying the housing market, again; under the name of a stimulus, phony misrepresented names.”

[Read more…]

Free to Choose

6/9/2010 – John Stossel –

America’s current struggles notwithstanding, life here is pretty good. We have a standard of living that’s the envy of most of the world.

Why did that happen? Prosperity isn’t the norm. Throughout history and throughout the world, poverty has been the norm. Most of the world still lives in dire poverty. Of the 6 billion people on earth, perhaps 1 billion have something close to our standard of living.

Why did America prosper when most of the people of the world are still poor? [Read more…]

How to Cripple the Free Economy

Socialist Policies Undermine American Economic Prosperity

The socialist policies implemented by the Obama administration and the Democrat leadership undermine America’s economic prosperity and prolong the misery for millions of companies and workers. Despite passing multi-trillion dollar government tax and spend initiatives, numerous bailouts of failed businesses, and repeated extensions of government benefits, Americans are suffering and the economy is languishing. Nationwide the unemployment rate has risen to 9.9%, while mortgage defaults and foreclosure rates have surged to record numbers.

Even with the tens of billions of dollars Congress has spent on preventing consumer mortgage defaults and home foreclosures, things have not improved much. How could they? Such government bailout measures are temporary band-aids that fail to address the structural problems our economy faces. They only delay the inevitable and push the problem further down the road. It doesn’t matter that house payments are now lower and the government has picked up the tab for a few months. If Americans cannot find a job or raise the capital to start a business they won’t have the money to pay even reduced mortgage payments. [Read more…]

A Primer on Capitalism

Capitalism Freedom Private Propertyby Chris Banescu –
In today’s turbulent financial times and difficult economic conditions, a lot of unjustified criticism and unwarranted accusations have been laid at the doorstep of capitalism. Many in the mainstream press and academia, a majority of politicians, and a large number of Americans have jumped on the bandwagon and unfairly blame capitalistic principles for the huge mess that we are in. Such widespread confusion evidences a misunderstanding by many Americans of how value is actually created in society and what capitalism really represents.

All societies, in order to prosper, grow, and take care of its citizens must create new value to sustain its economy and support an expanding population. Common sense and experience dictate that there are only three (3) possible ways for anyone in life to have, create, or obtain value (monetary or economic) or acquire any assets (property) to be able to live or sustain oneself or one’s family: [Read more…]