Friday, July 17, 2020

In Defense of Liberty and Free Enterprise

The United States for much of its history was the freest nation on earth. Sadly, that is no longer true. We need to regain our respect for the Constitution and Declaration of Independence and the principles they expound.

For our nation and its people to prosper in harmony there are five essential elements:
  • Individual liberty with the smallest government possible (history has shown the bigger the government, the bigger its temptation to meddle)
  • Free enterprise 
  • The rule of law
  • Judeo-Christian values (note: I'm not saying everyone should be a Christian or a Jew, I'm saying those values are essential)
  • All underpinned by a great education for everyone
From what I can tell, today's educational system often does not adequately explain the reasons free enterprise  (a/k/a, capitalism) is -- by far -- the best way to guarantee prosperity for everyone. The late Dr. Milton Friedman was an economist who had the gift of explaining economic concepts in an engaging way. 

Before there was Oprah! there was The Phil Donahue Show. Phil was a rather liberal host who would, over the course of an hour, bring on guests of all stripes and would allow the audience to question them. This 45-minute program (no commercials) is a terrific course in economics that I would recommend to your high school student. To whet your appetite, I have cued the clip up to where Dr. Friedman explains to Phil that, within reason, "greed" and pursuing one's own self-interest leads to far better outcomes than bureaucrats running an economy from inside the Beltway. 
If you appreciate his answer about greed, go back to the beginning of the program and watch the entire 45 minutes. I'm sure students, especially, will get a great of benefit, even if you don't agree with everything he says. 

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