Economic theory, and the profound impact it has on our lives, is much simpler than trained economists (apologies to my economist friends) would have you believe. To understand the politics of economic theory, one need only to consider two opposing ideas.
One group believes that fiscal and monetary policy should entail more federal government intervention in the private economy. From some incomprehensible and irrational thought process, these believers try to take the moral high ground. Yet their way leads to loss of individual freedom, to serfdom.
Members of both political parties fall prey to this falsehood, some more than others. When politicians say they are going to Washington to solve your problems, be forewarned: What happens is more rules and regulations controlling your life and costing the taxpayer more of his hard earned income. The fact is, we don’t need, or want, our government’s help. Private industry is far more capable of creating profit through free choice than any bureaucrat.
The illusion of safety is a poor substitute for freedom, self-determination, and individuality.
The other, more enlightened group contends that more economic freedom is necessary for individual and national success. Further, that individual freedom stems exclusively from our Creator and demands limited government intervention in our lives. This is the mentality that forged our nation, that created our Declaration of Independence and Constitution. Individual self-determination is in fact the moral high ground.
In other words, big government versus limited government.
There can be no freedom without economic freedom, and that hinges on the inalienable right to ownership of property. We are not guilty of greed when we work hard for our money. They are greedy for stealing our earnings through excessive taxation and crushing free enterprise with regulation.
When one works at earning his money, to whom does that money, that property, belong? When any government can tax, impose fees, and put us in debt, on a whim, we don’t own our property; the government does. Granted, we all need to pay our fair share for the structure a government affords us, but when we have to work half the year to pay all our taxes, the price is too high.
Our money goes to supporting a massive government that enslaves us with regulation and unconstitutional laws. Then that same government puts all of us into debt to fund even more of its unnecessary spending. Our grandchildren will owe this debt, it has become so enormous. We have an obligation to stop the spending and reduce the deficit before we leave our progeny in crippling debt. That is the moral high ground.
This is why I object to imposition of tariffs. They are a tax on the consumer. It would be far more effective if we severely limited government regulation and taxation so that private enterprise could once again thrive in a free economy unimpeded by massive federal intervention. This is the message of the second group, who believe in individual freedom and ownership of property.
Our president did two tremendous things for us. He started DOGE to eliminate excess and wasteful spending by the Deep State bureaucrats, and he nominated three Supreme Court justices who overthrew the Chevron Doctrine, which severely limits the ability of the administrative (deep) state to impose fines and regulations. These two actions will do more to limit government and bring it into compliance with the Constitution than anything any other president has done in our lifetime.
We can change the direction of our beloved nation by supporting candidates who will limit government strictly to those rules of law articulated in the Constitution. When given a choice, always choose individual freedom — never more government control. The principle must always be the sanctity of individual freedom to choose. This is the moral high ground.
Jay Davidson is founder and CEO of a commercial bank. He is a student of the Austrian School of Economics and a dedicated capitalist. He believes there is a direct connection joining individual right and responsibility, our Constitution, capitalism, and the intent of our Creator.
Image via Pxfuel.