Wednesday, October 19, 2011

Audience question 8 from the debate

8. What will you do to improve economic and social development?

Paraphrasing the other candidates: I will spend more money and make smarter decisions than the other guys.

David McGruer: It is not the proper role of government to direct either economic or social development. These are the result of individual initiatives by people left free to choose their own path in life, so long as they do not initiate force against others. Government has no idea how to innovate or develop anything. All such information flows from the signals provided by a free market. All the examples across the world and over time demonstrate that to the degree government controls the economy, stagnation and regression are the rule. If government would withdraw from the economy, unemployment would be zero, since there is always work to be done at some price. Government regulations stifle innovation, prevent development and so lower the standard of living of all citizens. Social development follows economic development and is certainly not the proper function of government except as it supports individual freedom.

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