This is how economic recovery can be encouraged by all levels of government in the U.S.:
1. Remove all preemptory government regulations of all the professions and businesses.
2. Cut taxes to the bone, when possible totally abolish them.
3. Cut all subsidies and protectionist measures.
4. Eliminate all minimum wage laws.
5. Close down all the alphabet soup agencies (a corollary of #1).
6. Sell off all government properties that do not relate to the military defense of the country.
7. Abolish the war on drugs.
8. Abolish all blue laws, everywhere (including states, counties, and municipalities).
9. Stop all non-defensive military endeavors.
10. Basically and most generally, follow the edict of the Declaration of Independence where it assigns to government the job of securing the basic rights of the citizenry.
It is by freeing up human productivity and creativity that economies are most likely to grow. Apart from natural calamities, governmental interventions are the worst obstacles to economic development. Makes perfectly good sense. Government is no good at picking winners and losers. Bureaucrats and politicians have no more wisdom and virtue than do the rest of us, so they must not take over the direction of our lives, including our economic affairs. The top down regimentation of economic affairs is perverse and will surely prolong our economic wows.
If these measures aren't followed, the country will continue to struggle and decline.
Source
1. Remove all preemptory government regulations of all the professions and businesses.
2. Cut taxes to the bone, when possible totally abolish them.
3. Cut all subsidies and protectionist measures.
4. Eliminate all minimum wage laws.
5. Close down all the alphabet soup agencies (a corollary of #1).
6. Sell off all government properties that do not relate to the military defense of the country.
7. Abolish the war on drugs.
8. Abolish all blue laws, everywhere (including states, counties, and municipalities).
9. Stop all non-defensive military endeavors.
10. Basically and most generally, follow the edict of the Declaration of Independence where it assigns to government the job of securing the basic rights of the citizenry.
It is by freeing up human productivity and creativity that economies are most likely to grow. Apart from natural calamities, governmental interventions are the worst obstacles to economic development. Makes perfectly good sense. Government is no good at picking winners and losers. Bureaucrats and politicians have no more wisdom and virtue than do the rest of us, so they must not take over the direction of our lives, including our economic affairs. The top down regimentation of economic affairs is perverse and will surely prolong our economic wows.
If these measures aren't followed, the country will continue to struggle and decline.
Source
Words of wisdom. The government's job is to protect us and then get the hell out of the way and let us lead our lives in any way we see fit so long as we don't interfere with any other citizen's rights to do the same thing.
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