Vail Daily letter: Rein in special interests
Vail, CO Colorado
Mazzuca’s perspicacious piece, “The wrong software,” is interesting and enlightening. Unfortunately, the adulteration of Friedman’s “hardware,” “operating system” and “software” he describes are the result of the combined effort of all three branches of government over time – not just the current administration. To describe our current hardware as free-market capitalism is a joke. We have no free markets as envisioned by our founders. Our so-called capitalists ensure that their markets are not “free” by spending billions for legislative protection from competition as well as favorable tax laws and governmental subsidies. A recent Supreme Court decision to allow corporations to make unlimited political contributions is the most recent conservative contribution to “crony capitalism.”
Our operating system may or may not be “replete with over-regulation,” but it is certainly replete with inadequate regulation – watered down by congressional special interest legislation. Today’s extensive regulation is driven by the need to rein in flagrant abuses such as unfettered financial system risks and excesses – irresponsibly insured by taxpayers, and permanent environmental destruction with little responsibility for restitution – at the expense of future generations of Americans.
Rank partisanship and unlimited political spending by special interests can only result in a continued downward spiral for our country and its welfare. The divide between the “haves” and “have-nots,” which has been growing for decades, will continue to accelerate. Short-term selfish political interests assure continued job erosion, leading to greater demands on the public dole and an increasingly restive underclass.
As stated in Sowell’s “Quote of the day,” we must indeed “look at economic policies in terms of the incentives they create rather than the goals they create.” And, while we are at it, we must also look at the results they produce for the welfare of the total American population – not just the rich and famous.
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