Liberal Bolshevism: America Did Not Defeat Communism, She Adopted It by Alexander G Markovsky

Author:Alexander G Markovsky [Markovsky, Alexander G]
Language: eng
Format: azw
Tags: POLITICAL SCIENCE
ISBN: 9781457548741
Publisher: Dog Ear Publishing
Published: 2016-07-11T04:00:00+00:00

4. What Is to Be Done

In previous chapters I have mentioned “laissez-faire” capitalism. It is worth reminding that the theory of “laissez-faire” capitalism was born sometime in the seventeenth century when a French businessman named Le Gendre, who, when asked by then-famous finance minister Jean-Baptiste Colbert how the government could help business, responded, “Laissez-nous faire”—literally, “Leave us be.” Over the centuries this model has proven to be the best tool for unleashing human ingenuity. In the United States, where government oppression of private enterprise has historically been relatively feeble compared with the rest of the world, prosperity and human ingenuity flourished.

A few years ago I saw a big headline in the London Times: “Why don’t we have our own Bill Gates?” The answer is obvious—in America, laissez-faire capitalism is not dead yet. To keep it alive, “the art of this deal,” paraphrasing Donald Trump, is to achieve and maintain the delicate balance between capitalist entrepreneurship and government regulations, which are necessary to prevent abuses and uphold the law, and see that the regulations do not become an impediment to prosperity, especially during the hardship of economic downturns. This is, arguably, the most pressing problem before the regulators and legislators. In order to do that the government must do the following five things.

First, it must enforce bankruptcy laws to allow failed enterprises to exit the marketplace in an orderly manner. There is no reason to prop up the deadwood of our economy.

Second, it must reduce taxes to stimulate investment by big business and increase public purchasing power so the supply-demand inventory balance can be worked out, sooner rather than later. To do that, it needs to create real budgets—with stated and planned-for contingencies, as well as performance- and budget-based incentives.

Third, just as private enterprises cut out fat to become leaner and meaner during the recession, the government should use the opportunity to eliminate redundancies and reduce some of its bureaucracy. This is obviously politically vexing for any government, since it would increase unemployment.

Fourth, we need to create a new government agency, the Department of Deregulation. This department would review existing regulations every ten years or so for the purpose of simplifying or deleting outdated regulations or regulations that are ineffective or detrimental to the economy. And abolish those government agencies that have outlived their usefulness.

Fifth, we must stop building the economies of other nations. Saudi Arabia, Kuwait, the United Arab Emirates were all built with American oil money. China’s economy has become a manufacturing plant for American corporations. Profits from the manufactured goods sold on the American market have built China’s economy.

The solution to our problems is simple: “Laissez-nous faire.” Just let capitalism work.

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