All The Evidence That Anti-Free Market Always Means Anti-Job Growth

milton-friedman-1

This one’s a tribute to Milton Friedman, who was so genius as to come up with negative income tax and monetarist anti-inflation tactics

Opposing the Free Market is Inherently Opposing Job Growth, and Opposing Millennial independence.

Why do Republicans consistently have the economic policy advantage over Democrats in every American election? And how is it objective and neutral for me to claim that anti-capitalism inherently means pro-poverty and pro-famine? The evidence lies in surveys by all manner of observational charters who refrain from tying their political affiliations into their surveys. But where to begin?

World Happiness Report

The United Nations apparently does an index called the World Happiness Report, which is quite telling as it reveals that wealthier nations are more often happier ones. Most of the wealth bars I see on the bar graph, with wealth indicated in yellow, are longer in happier countries. So evidently even the United Nations knows that Wealth is Good. But what creates wealth?

Ease of Doing Business

The World Bank Group has an index they rely on to measure wealth creation by measuring ease of doing business. Business creates wealth by exerting profit motives, especially when workers are hired to help out the individual running the business with their own individual talents.

Let me give examples. Given the recent event of Brexit I will use Britain, the UK, as my example of where it’s easy to do business. Britain ranks 17th easiest place in the world to start a business and 6th easiest place on Earth to do business.

  • There are four procedures
  • This saga of procedures takes four-and-a-half days to finish
  • The start-up cost in US money is $43
  • And there is no Paid-In-Minimum-Capital cost

By contrast, Eritrea is the 6th hardest place to start business and the absolute hardest place on Earth to do business.

  • There are 13 procedures
  • This takes 84 days to finish
  • The start up cost in US money is $202
  • Paid-In-Minimum-Capital cost is $886

Small business is more able and willing to grow wealth by creating jobs when it has a very short list of restrictions to abide by. Which begs the question what policies are needed?

Economic Freedom in Laissez-faire

The fact of life is: the quicker and easier to fully grasp the regulatory burden is, the quicker and easier it is for the poor to get jobs and/or start businesses. And that is exactly what free market is, what laissez-faire is. Free market means prices are determined by competition between small businesses and not controlled by authority. Free market also means wages are decided by competition between individual work ethics and not controlled by authority.

Laissez-faire is a government policy of letting work ethics and small businesses operate with very minimal government interference. Laissez-faire is sometimes called Fiscal Libertarianism, the minarchist version of which refers to free trade, low taxes and minimal business regulation. And the anarchist version refers to free trade, no taxes and zero business regulation.

Before this appalling Trump era we are in, the US Republican Party’s economic policies were of the minarchist edition Laissez-faire. Then there’s the US Libertarian Party advocating policies of the anarchist edition, which is not wrong because of ‘corporate greed’ but rather the wrong edition because of human nature being severely flawed.

Putting this aside, the minarchist edition of laissez-faire leads to prosperity and job growth and lifting people out of poverty.

The Electoral Question Answer

Which US prime party should poor Americans have supported (because economics) before this abysmal Donald Trump era we are in? Answer is: The US Republican Party.

Hear me out, this is why:

  • The Democrats may want to grant American young adults independence from their parents, but Democrat policies (high taxes, gigantic business regulation, protectionism in trade) did and still increase poverty, job loss, and millennial dependence on parents.
  • Before this Trump era, Republicans used to have varying intentions by faction (and believe me the GOP had a lot of factions before Trump came and ruined it) but until he came along their policies (low taxes, minimal business regulation, free trade) used to truly lift people out of poverty and young adults into sovereignty from their parents.

Conclusion

I have already made my case for capitalism, but this is now me backing up that case with scholarly facts. Thanks for reading,

~LDA

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