Stephen Moore writes today in the Wall Street Journal comparing life in the US today, to the fictional world of Atlas Shrugged:

For the uninitiated, the moral of the story is simply this: Politicians invariably respond to crises — that in most cases they themselves created — by spawning new government programs, laws and regulations. These, in turn, generate more havoc and poverty, which inspires the politicians to create more programs . . . and the downward spiral repeats itself until the productive sectors of the economy collapse under the collective weight of taxes and other burdens imposed in the name of fairness, equality and do-goodism.

Currently we have:
Housing crisis
Credit Crisis
Banking Crisis
Failure of Auto Industry Crisis
Environmental Crisis
States Budget Crisis
Healthcare Crisis
And so on…


The Obama administration and the Bush administration before it, in their benevolence are trying to save us from ourselves with more laws, programs, borrowing money we don’t have to pay for things we don’t want or need. I’m sure Mr Obama thinks he will bring people up from their present state by mandating that the government intervene in our lives. I don’t think he realizes that in the process of bringing people up, he is really tearing them down. Eventually the people who produce things in the economy will stop because the incentive to produce is gone. Some might call this disappearance of greed a good thing

Many have said greed is the problem and needs to be stopped. Who better to stop the greed than the government? They’re not greedy at all! Who better to make choices for you than some bureaucrat in a cubicle somewhere in the 202 area code? Never mind that the laws of economics tell us that you will always make the best choices for yourself when left to your own devices — and this is why the US has prospered.

I do think greed has brought us to the point of these crisises. However, the government is not the solution to the greed and the current crises we now face.

Milton Friedman, the grandfather of the free market, explains it perfectly to Phil Donahue in this clip

Friedman teaches us these things:
1—Great ideas don’t come from the government
2—There has never been a society that has not run and/or been motivated by greed. And I will add here that this is not a bad thing.
3—The only time society has escaped from poverty and oppression is when there has been capitalism and free trade.

I will close by saying this, with great freedom. Comes great responsibility, we clearly have not understood that. Sadly the government has picked up on that and has convinced itself and many that they must be the responsible party in all of this. Sadly by doing this we learn nothing and Atlas Shrugged becomes a reality, not just big book on the library shelf.

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