Financial prosperity for the country through a free market economy

an op-ed by
Ruth McClung
July 2009

Our economy is struggling right now, mainly because of bad decisions from our government, and also from personal debt. I sense many people are trying to pay off debts and get their finances in better shape. But our government seems to have a different philosophy - claim they are fixing our economy by printing money and spending it. When a country is in a time of prosperity, it is not wise to build up a huge debt. Even more so, in a time of recession, it is foolishness! Passing legislation like our government is doing now that hurts employers, will not bring about the growth of jobs that this country badly needs for prosperity. Hurting hard working Americans with high taxes and high inflation (which will come with massive debt) is wrong and will cause everyone to suffer and not prosper financially. The leaders who will fix this recession are the ones who will allow the people to have control over their own lives - to save, spend and invest their own money as they see fit - a free market economy!

Below are some reasons why I will support a free market economy.

A free market economy (or a people controlled economy) has been shown thoughout history to promote the greatest amount of prosperity for the greatest number of people. Since resources are always limited, we must always decide where and how our resources are used. In a free market society the people get to choose where and how their resources are used by the prices they are willing to pay. When the government chooses, the stark truth is, you have a few people telling the masses where and how resources will be distributed. A free market brings more prosperity to many people. A government controlled economy brings prosperity only to the few elite.

A free market economy works better because more people are working to find a solution, while in a government controlled economy, very few are. To think of this in simple terms: if you have a small group that can come up with five solutions to a problem, and a large group that can come up with a thousand solutions to a problem, which of the two groups would likely have the best solution to the problem? In the government controlled economy, the few would pick one of the five solutions. In the free market economy, we all choose the best solution from the thousand, because the solutions are competing against each other until finally the best solution comes to the top. The automobile replacing the horse and buggy is an example. This free market problem solving is always going on, so when times change, the solutions will change to best fit the economy. If the government controlled the horse and buggy companies like they are currently controlling certain car companies, would we still be hitching up our horses?

A free market economy allows companies to succeed or fail on their own merit, while a government controlled economy doesn't. This scenario is like a professional sports team that never bothers to keep score. If there were never any winners or losers, and the athletes got paid the same regardless of how they played, would the athletes work just as hard as athletes who could win or lose? The same happens with the economy. If businesses are not allowed to succeed or fail, will the companies work just as hard? Will anyone really want the products that were picked by a few government people, who normally aren't experts in what they are legislating? If the government continues to subsidize different segments of society, is our money truly being spent for the peoples' financial benefit or only for the benefit of a select few?

In a free market economy the people are served. In a government controlled economy, only the elite in power are served. Since there is no special endowment of virtue for someone working in the government, it must be assumed that there are just as many "self serving" people in the government sector as in the private sector. A group of self serving officials with the power of the federal government behind them is indeed a scary thing when they control the nation's livelihood. A group of self serving people in the private industry are not as dangerous. They do not have the power of the federal government. They cannot legislate taxes and make you buy a certain item. No, in reality, to make money in the private sector, a person must come up with a product or service that people want, and make that product or service better and cheaper, regardless of their motivations.

 

 

Ruth McClung for US Congress Arizona CD 7

 

 

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Ruth McClung for Congress

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