What Free Market?
In light of the current economic crisis this country is facing, I’m cringing in anticipation for the accusations against the free market. We are under a Republican administration espousing, at least partially, free market rhetoric, but applying policies that require government invention in most areas of our lives — economic and personal. This falsely creates a sense of animosity toward the free market.
When critics of the free market are reminded that we are not operating under a truly free market, they claim that we simply just don’t have the right people in charge. They maintain this erroneous defense of their statist views, despite achieving similar results under governance by elected officials of their preference.
The underlying reason for my support of Ron Paul is his acknowledgment of his inability to make better decisions for individuals than they can make for themselves. He understands and respects the fact that no person or administration can accurately predict the economic decisions of millions of individuals representing an equal number of different values and goals, better than the free market can. A free market, though not infallible, best represents everyone who is a part of it, and is the only moral and practical economic system.
As Mises pointed out, once the government intervenes into one area of the economic system, it will become necessary for it to become involved in other areas (to “repair” the damage it has done) until it finally has full control. And once the government is in complete control of our economic choices, we are no longer the masters of our own will.