Free Our Markets by Howard Baetjer Jr

Free Our Markets by Howard Baetjer Jr

Author:Howard Baetjer Jr [Baetjer, Howard Jr]
Language: eng
Format: epub
Tags: Economic Conditions, Economic Policy Development, Economic Policy, Free Enterprise
ISBN: 9780984425426
Publisher: Jane Philip Publications, LLC
Published: 2013-07-04T04:00:00+00:00


Part II

Conclusion

The solution to the problem of special interests is to limit government to the role Jefferson identifies in his first inaugural address, quoted in this book’s introduction. Governments should “restrain men from injuring one another” and nothing more. Policy should “leave them otherwise free to regulate their own pursuits of industry and improvement.” Take away the governmental power for some to impose their wishes on peaceful others, and the problem of special interests will evaporate.

Imagine American society supporting freedom of exchange as strongly as we support freedom of speech and freedom of religion. No lobbyist for a newspaper chain or a religion goes to Washington today to insist that any new newspaper or religion first get a license assuring the quality of their news or doctrine. If members of Congress were asked to institute such licensing, they would shrug, bemused, and say, “Well, I’m sorry, but the Constitution does not permit us to interfere with the press or religion.”

That’s the way it should be with the rest of the economy as well! No special interest group, such as loggers or hairdressers or dairy farmers, should even think of going to Washington—or state capitals—for licensing, subsidies, tariffs, bailouts, or other special treatment. They should know that their legislators would have to say, “Well, I’m sorry, but the Constitution does not permit us to subsidize businesses or interfere with commerce.” If politicians had no favors to hand out, special interests would seek no favors from politicians.

Government regulation tempts special interests to use government power to benefit themselves at others’ expense. The special interests regularly fall into temptation. The economy works for the benefit of all to the extent that resources are privately owned, exchange is free, and regulation is by market forces.

“Yeah, right!” will come a retort from some. “That’s the kind of free market fundamentalism that caused the housing bubble and the financial crisis of 2008!”

Really? Let’s take a close look.



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