RealClearMarkets - Is Economic Equality Worth the Loss of Prosperity?
Naturally, the MSM and the left will assure us that this is a "false choice" -- they ought to know, they are getting pretty expert at them lately -- "BO stimulus or depression, BO healthcare or "nothing" (whatever that means). Their thinking is that one DOESN'T need to have those "animal spirits" of capitalism in order to have "prosperity". How do we know if they are right? Well, let them get rid of all the capitalism and make everyone dependent on the state for basic food, and then we can see ... of course when we get there, we may no longer be able to do anything about it, but then that would be OK with the lefties as well. Must be Bush's fault!!
Naturally, the MSM and the left will assure us that this is a "false choice" -- they ought to know, they are getting pretty expert at them lately -- "BO stimulus or depression, BO healthcare or "nothing" (whatever that means). Their thinking is that one DOESN'T need to have those "animal spirits" of capitalism in order to have "prosperity". How do we know if they are right? Well, let them get rid of all the capitalism and make everyone dependent on the state for basic food, and then we can see ... of course when we get there, we may no longer be able to do anything about it, but then that would be OK with the lefties as well. Must be Bush's fault!!
The radical idea that all men should be equal before the law, each free to pursue happiness using his own means, created a nation of innovators that transformed the world. American culture had little tolerance for hereditary privilege, instead celebrating the self-made man accepting unequal outcomes as the price society pays to motivate entrepreneurial risk. Our founding social contract gave almost everyone a shot at riches but guaranteed outcomes for none. The system lasted 200 years because the same market that rewarded innovation eventually spread its fruits to even life's laggards. In the historical blink of an eye material luxuries became necessities became basic human "rights."
