February 28, 2013

Economic Freedom = Economic Progress

People who contend that the United States needs to enact more social welfare programs have lost sight of what the United States is all about in the first place, freedom.  The United States has always promised freedom to all of its citizens, and the result of this freedom the United States has enjoyed an average standard of living that is quite high.  I think one significant contributing factor to this high standard of living is the United States ability to attract genius from abroad.  That is the best and brightest of the world want to come to the United States because the freedom here will allow them to reap the rewards of their genius.
As the United States begins to enact more redistribution policies it is suffocating economic freedom.  While many believe that these redistribution policies are the right thing to do they have probably lost sight of the fact that when there is a strong incentive to produce more, and save more capital everyone is better off.  When these redistribution policies are enacted the motivation for people to move here from other countries is lowered, and in some case the incentives to conduct business in the United States are so low that people actually leave the United States and conduct their business elsewhere.
If the United States wants to see continued economic prosperity then we need to stop passing policies that violate the economic freedom of individuals.  It is only once these policies have been stopped that the United States can have any hope of seeing the same economic progress it once did.

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