In the battle of ideas, supporters of capitalism and economic liberty sometimes face an uphill climb because of a perception of heartlessness.
When companies get in trouble, we’re the mean people who don’t want to give bailouts.
When workers are laid off, we’re the Scrooges who don’t want perpetual unemployment checks.
And when some workers aren’t earning much money, we’re the scoundrels who don’t want to boost the minimum wage.
Our “problem” is that we care about good results rather than good intentions. Motivated by the wisdom of Frederic Bastiat, we look at indirect effects and long-run consequences. And this is why we routinely reject statist proposals.
The challenge, of course, is educating others so that they understand that small government and free markets are the best way of providing more opportunity and better lives – particularly for those on the lower rungs of the economic ladder.
This is why I was very happy to see this new video from Learn Liberty. It basically explains the process of “creative destruction” to show how progress and prosperity are undermined when politicians try to “protect jobs.”
I also like the video because it makes the point that our living standards are the result of how much we produce, not the number of jobs.
In other words, we don’t want people employed for the sake of being employed. We want them doing things that add value to the economy.
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for November 26th, 2014 | John Ransom