Ron Paul: Free Markets Create Jobs

www.dailypaul.com...

In this struggling economy it is essential for politicians to take a step back and think about what government has been doing to business in this country. In less than 200 years, the free market, property rights, and respect for the rule of law took this nation from a rough frontier to a global economic superpower. Today, however, our nation and our economy clearly are headed in the wrong direction.

Of course, America has never enjoyed absolute free-market capitalism: creeping government intrusion and special interest political patronage have existed and increased since our founding. But America historically has permitted free markets to operate with less government interference than other nations, while showing greater respect for property rights and the rule of law. Less government, respect for private property, and a relatively stable legal environment allowed America to become the wealthiest nation on earth.

By contrast, the poorest nations almost always demonstrate hostility for free markets, private property, and the rule of law. Capital formation, entrepreneurship, credit, and wealth accumulation are uniformly discouraged in poor countries. Private contracts are not reliably enforced, and private property is not secure in the hands of owners. The predictable result is widespread poverty and misery.

Notice that in Africa and Asia where the worlds poorest nations are located is the same places where corrupted government destroyes the national economy through demanding absolute power or they work alongside corrupted business to control the national economy at the expense of workers. America was prosperous for centuries until business and government began to work together to control property and thus restrict prosperity.

BUMP

reply to post by Misoir

WIN.

One of Paul's greatest strengths is his adherence to the Austrian School of economics.

A great book providing theory (to supplement the obvious historical evidence) as to how free markets produce widespread prosperity is Mises' Human Action which can be read for free at the link.

A much shorter book debunking common economic fallacies is Hazlitt's Economics in One Lesson.

Both are excellent. If I recall, Ron Paul cited both in his book "End the Fed".

reply to post by NewlyAwakened


Austrian school is one of the most hard-hitting economic schools arund, it is all about maximum liberty and many of the issues it pointed out and the results are now occuring.

Adam Smith had it right...

the principles are still sound today.

Ron Paul is a total economy guru

I have always envisioned where the Government is just the framing of the house, in which all else is dictated freely by those that live within that house. The framing stays steady, solid and secure. Protecting the contents both inside and out, but never changing. Slight modifications can be made, but only after careful consideration to the overall foundation of framework.

Somehow, we have given power to the framework to dictate what can occur on the inside of the house, controlling what a free people wish to pursue.

Ron Paul is fantastic in his knowledge of Austrian School of Economics. All the while knowing that the State will always seek ways into meddling of the economics to garner and dictate power.

Good find Misoir