With our current economic downturn, we could use some help. We could use new jobs, new products, new wealth creation. But who to provide it?
Right now, many, if not most, are looking to the Federal government to provide the above relief. But the problem is that the government is a single entity, pursuing it's own economic goals. Is this the best solution?
Someone once said that an infinite number of monkeys at an infinite number of typewriters would eventually reproduce the works of the Bard, William Shakespeare. Wouldn't it be better for our recovery to have multiple entities working on it?
Instead of a single entity, we could have a couple of hundred million entities pursuing their own economic goals. Do you think this would increase the chances for and speed of recovery?
This would be the Free Enterprise Recovery Plan. Instead of having the Federal government direct the recovery, perhaps it's best role would be to make it easier for hundreds of millions of citizens, our little economic monkeys, to each direct their own recovery?
And how would the government do this? Easy. Remove the impediments to personal economic freedom. Since the government directly competes with private citizens for money, the government should cut itself back.
Cut spending. Reduce spending. Cut taxes. No deficit spending. Cut onerous regulation. Cut paperwork and compliance costs. A fair and flat tax system.
This isn't rocket science. Just smart math. Are our odds of recovery greater with one entity to perform this mighty task, or hundreds of millions each doing a small part?
Let my economic monkeys go.
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Deregulating the banking industry had a large part in putting this country in the mess it is in, because Alan Greenspan thought that the industry would regulate itself instead of lining their pockets by giving loans to anyone that would sign on the dotted line.
ReplyDeleteIt is diffucult to create new jobs when you have very little industry, and the vast majority of the manufacturing in this country was outsourced years ago to improve profit margins.
The CRA, mandating loans on marginal, at best, properties to those with poor credit set us up for major default numbers as well as artificially inflated housing prices, leading to the bubble. Greenspan also, under presidents of both parties, kept interest artificially low to keep up consumer spending, thus avoiding politically inconvenient mild corrections of the economy. We just saved up corrections for "the big one" we've got now.
ReplyDeleteThat being said, I am still responsible for my own personal economy. I vowed 18 months ago to never again rely on another for my well being, and went independent. Not setting the world afire, but I'm doing OK. My wife will probably go self employed in a couple of months.
There are opportunities out there for the smart, dedicated, and determined. Just find your passion and follow it.
(Your innate lunacy will be a GREAT help here. Trust me, I know.)