Vail Daily letter: Free market should reign
Vail, CO, Colorado
“Let my people go!” was the cry to the tyrant. Today this needs to ring again throughout the halls of the economy.
Some say that the free market was to blame for our current economic malaise. But I say that our commerce system is so entangled with regulation that George Orwell, a socialist, would be decrying it. Business is far from free and every layer of bureaucratic entanglement that is added cannibalizes productivity.
One mantra sung these days is that all are entitled to a “living wage.” But isn’t the employer also entitled to a profitable payroll? Entitlements are guaranteed benefits granted by privilege. Truly free people would never grant titles of nobility or tender entitlements if we believe that all men are created equal and therefore are equal under the law.
What about the small-business owners trying to get started? Oft-times they make a lot less than the so-called “living wage.” They slave away, taking on all the risk of failure. They optimize all their resources carefully, striving to succeed. There is no advocate for their guaranteed success, for their “living wage.”
I will keep it simple: The only cure to our current economic disaster is to get all governing authorities out of the way and to stop micromanaging the economy. The imposed discipline of free markets will facilitate economic prosperity through the exercise of choice.
Economies that prosper leave the decisions to the lowest unit of governing authority. Without overhead, without the micromanagement of resources by the state, the people will determine the market by allocating their resources according to their desires.
Let our people decide for themselves!