Tuesday, March 8, 2016

Big Government Fuels Income Inequality

Richard Ebeling emails:

Dear Bob,

I have a new article on the “EpicTimes” news and commentary website on, “Big Government Fuels Income Inequality: Liberty, Competition, and Free Trade are Keys to Prosperity.”

In campaign years, more than others, politicians promise the voters that they have the ability and desire to solve virtually all their social and economic problems through greater and more intrusive government intervention, regulation, redistribution, and control.

These are old promises on false premises offered anew. Adam Smith explained their fundamental errors and impossibilities 240 years ago with the publication of his famous book, “The Wealth of Nations” on March 5, 1776.

Adam Smith demonstrated that peace, prosperity and rising standards of living come through liberty, competition and free trade and not through social engineers who have the hubris and arrogance to believe that they know better how people should go about their personal affairs than the people themselves.

Self-interest set loose in an institutional setting of respected property rights with division of labor and voluntary exchange results in mutual betterment. Government command and control not only introduces force into human relationships but brings about injustices and retarded development delaying an improved “wealth of nations.”



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