Wednesday, June 17, 2009

The Free Market and Personal Finance

I have been slowly reading Liberty and Tyranny by Mark Levin and he has a chapter devoted to the free market. The book itself is very interesting, and you can tell the amount of time(I believe 16 months) and thought he put into it. It explores the question, "What is the meaning of the word 'conservatism'?" and discusses many modern perspectives that attempt to claim the title of true conservative principles.There is a reason it is and has been on the best seller list for a while. He backs up every argument by citing about every point he makes. I want to point out some quotes that I love from this chapter, since I am such a believer in the free markets.  

The following is an excerpts from Liberty and Tyranny © Copyright, 2009, by Mark Levin.

He start the chapter by saying:
The free market is the most transformative of economic systems. It fosters creativity and inventiveness. It produces new industries, products, and services, as it improves upon existing ones. With millions of individuals freely engaged in a an infinite number and variety of transactions each day, it is impossible to even conceive all the changes and plans for change occurring in our economy at any given time. The free market creates more wealth and opportunities for more people than any other economic model.
I couldn't agree more...he goes on:
The free market is the only economic system that produces on a sustainable basis, and for the overwhelming majority of Americans, an abundance of food, housing, energy, and medicine—the staples of human survival; it creates an astonishing array of consumer goods that add comfort, value, and security to the quality of life; and the free market recognizes that it is in man's DNA to take risk, to innovate, to achieve, to compete, and to acquire—to not only survive but also improve his circumstance.
and that we should:
emphasize that the individual knows better how to make and spend that which he has earned from his own labor and provide for his family than do the bureaucracies populated by strangers who see classes of people rather than individual human beings. As Founder James Wilson observed, "By exclusive property, the productions of the earth and the means of subsistence are secured and preserved, as well as multiplied. What belongs to no ones is wasted by every one. What belongs to one man in particular is the object of his economy and care."
That is why just lately I have dove into politics. Personal finance is all about "His" or the individuals economy and care. Anyone who cares about personal finance should be all about this and I see all the time bloggers, co-workers, and friends that do not take the time to see that our wealth is slowly being taken from us. I believe that we need a government for our basic necessities, but the government is growing rapidly and spending our taxes carelessly to the point that we are going to wake up one day and our wealth we be gone. Don't think it can happen? Keep listening to those turkey in Washington and we will find out...take a look

Do you think the government help everyone become wealthy? Leave me a comment


  1. Sometimes I feel like the government works to maintain the wealth of those that are currently wealthy. For anybody who is not born rich, building wealth is an uphill battle, though not impossible (which is why the US is still great).

  2. David - No Doubt, the government bails out big corporations. Who do you think is hiring people? Definitely not the big corporations that are getting bailed out, they are broke. It is the small businesses that are growing and expanding that are hiring and that are going to hire once the government lets the free market run it course.