There's a known antidote for such grimness: capitalism has reduced poverty in the past and it's capable of doing so again if people are unleashed to build prosperity through free exchange.
Largely without planning and direction, people made the world healthier, wealthier, and happier.
This second-guessing of the power of free markets and voluntary exchange threatens the liberty which gave so much of the world prosperity, and which has the potential to reinvigorate economies suffering from the effects of a pandemic and interventionist public health measures.
That means the best path forward as the world emerges from the pandemic is to dump the flirtations of recent years with authoritarian economic notions, whether that's outright state ownership of the means of production or government bullying.
Letting capitalism rebuild the world's wealth also means continuing the work of getting government out of the way.
The same concerns apply around the world as Hausmann emphasized and as noted by the World Bank.
Capitalism can only make us prosperous in a world that allows the freedom to enjoy its benefits.
It's becoming increasingly difficult to discern fact from fiction, and unfortunately the media has a strong bias. They spin stories to make conservatives look bad and will go to great lengths to avoid reporting on the good that comes from conservative policies. There are a few shining lights in the media landscape-brave conservative outlets that report the truth and offer a different perspective. We must support conservative outlets like this one and ensure that our voices are heard.
Monday, March 22, 2021
Dump Pandemic-Era Authoritarianism and Let Capitalism Rebuild Prosperity
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