Monday, January 11, 2010

The Economic Debate

The domestic debate, which I and many other libertarians have addressed several times in the past, involves the question of what has caused America’s economic woes.

One side — the statist side — claims that the problem lies in freedom and free enterprise.
The other side — the libertarian side — contends that our nation’s economic woes lies in the failure of the welfare-state, regulated-economy way of life that America has embraced since at least the 1930s.

The different diagnoses lead to two completely different solutions.

The statists say that since the problem is rooted in too much economic freedom and not enough regulation, the solution is to establish more government control over economic activity.

The libertarians say that since the problem is rooted in socialism and interventionism, the solution is to dismantle the welfare-state and regulatory programs (and the taxation funding them) and let genuine economic liberty reign...

What is that motivates U.S. statists to blame America’s economic woes on “freedom and free enterprise” rather than on America’s 70-year experiment with welfare-statism and regulation.

read the entire essay

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