The Left always has plenty of reasons why government must regualte and control the economy. There are many justifications for the Fed -- just ask practically anyone in the political class. Hardly anyone in America can imagine an economy not controlled by government, yet government control of the economy through political means has created stagnation and threatens to lead to decline. The negative consequences have piled up through the years, and the Keynesian long run no one was worried about is here.
The amazing diversity and strength of our economy has so far overcome government interventions. Now that China and India and new emerging economic powers have implemented enough capitalist principles to become competitive, America's advantage has waned, and our government's expansion of control through Obamacare and Dodd-Frank places obstacles in the way of companies and prevents them from competing through business done in America.
Our industries are going over-seas to make money, and small business in the US are suffering from regulatory burdens and business taxes and just too much government intervention. As a nation we must come to the realization that statism is killing us like it's killed European countries like Greece and Portugal, and could kill the entire EU. This is no longer a matter of attempting to keep government from gaining complete control -- it's about making extreme changes which create a truly free market.
We can't place our hope on a presidential candidate to come along with a better government plan -- it's government plans, per se, that are the problem. We need an entire government which is limited in power. The American people have to stand up and demand that government remove itself from the economy. I don't know how this demand can be delivered -- I don't what kind of organized effort it would take to send this message and make this demand -- all I know is it needs to be done.
In the next post I will write about innovation in business oversight.