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|Social Security is an unfunded pay-as-you-go system, fundamentally flawed and analogous in design to illegal pyramid schemes. Government accounting creates the illusion of a trust fund, but in fact, excess receipts are spent immediately. The government’s own actuaries predict the system will be bankrupt by 2030, but Social Security could face financial crisis as early as 2014. Moreover, Social Security’s relatively poor rate of return makes the program an increasingly worse investment for today’s young worker. ... The system design itself is fundamentally flawed and cannot be repaired. It must instead be replaced by one derived from free markets and operated by free citizenry making individual economic decisions in their own self-interest. ... Reform is long overdue. If we fail to act soon, our children will either inherit a bankrupt system or be forced to pay an impossibly high level of taxes. Only private pensions with individual property rights to accumulate fund balances can create a secure pension system. Chile, which privatized its system in 1981, provides evidence of such a system’s effectiveness.
|The free market punishes irresponsibility. Government rewards it.
|Society thrives on trade simply because trade makes specialization possible, and specialization increases output, and increased output reduces the cost in toil for the satisfactions men live by. That being so, the market place is a most humane institution.
|Private capitalism makes a steam engine; State capitalism makes pyramids.
|Perhaps the removal of trade restrictions throughout the world would do more for the cause of universal peace than can any political union of peoples separated by trade barriers.
|The strongest argument for free enterprise is that it prevents anybody from having too much power. Whether that person is a government official, a trade union official, or a business executive. It forces them to put up or shut up. They either have to deliver the goods, produce something that people are willing to pay for, are willing to buy, or else they have to go into a different business.
|A major source of objection to a free economy is precisely that it ... gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.
|Control freaks who sneer at people who have 'faith' in the free market (voluntary trading) must be fantasizing an allegedly 'higher' political end than freedom.
|Many academicians and self-styled intellectuals, with a habitually arrogant and condescending attitude, treat the rest of the world with contempt. These so-called 'intelligentsia' congratulate themselves for, not only having high IQs and lots of education in their particular fields, but for having achieved the allegedly momentus insight that free-market capitalism and altruism are ultimately incompatible (duh). Yet they're still too damned stupid to realize and too damned ignorant to acknowledge that altruism is NOT the only moral code available to mankind. (It is, in fact, the bloodiest and most regressive one of all). This stunted thinking has resulted in their committing the intellectual atrocity of rejecting the capitalism and freedom instead of the altruism and coercion.
|Free enterprise capitalism exists only when people in the private sector are free to pursue their own interests without direction from government. When politicians start passing laws to tell them what to do, or bureaucrats start issuing edicts to tell them what to do, it is no longer capitalism; it's fascism.
|Many academicians and self-styled intellectuals, with a habitually arrogant and condescending attitude, treat the rest of the world with contempt. These so-called 'intelligentsia' congratulate themselves for, not only having high IQs and lots of education in their particular fields, but for having achieved the allegedly momentous insight that free-market capitalism and pure altruism are ultimately incompatible (duh). Yet they're still too damned stupid to realize, and too damned ignorant to acknowledge, that altruism is NOT the only moral code available to mankind. (It is, in fact, the bloodiest and most regressive one of all). This stunted thinking has resulted in their committing the intellectual atrocity of rejecting the capitalism and freedom instead of the altruism and coercion.
|Friedrich August von Hayek
|[The] impersonal process of the market ... can be neither just nor unjust, because the results are not intended or foreseen.
|Friedrich August von Hayek
|There is perhaps no single factor contributing so much to people's frequent reluctance to let the market work as their
inability to conceive how some necessary balance, between demand and supply, between
exports and imports, or the like, will be brought about without deliberate control. The
conservative feels safe and content only if he is assured that some higher wisdom watches
and supervises change, only if he knows that some authority is charged with keeping the
|Big business in America today and for some years has been openly at war with competition and, thus, at war with laissez-faire capitalism. ... The left's attack on corporate capitalism is, when examined, an attack on economic forms possible only in collusion between authoritarian government and bureaucratized, nonentrepreneurial business. It is unfortunate that many New Leftists are so uncritical as to accept this premise as indicating that all forms of capitalism are bad ...
|Justice Oliver Wendell Holmes, Jr.
|Free competition is worth more to society than it costs.
|Everything in the world is purchased by labor.
|Dividing the political positions into liberal versus conservative is itself a leading example of [an old conceptual framework that organizes the world into categories and stereotypes] shared by journalists and media activists alike. As a result, it has taken decades for libertarians in the United States to break through this conventional view of the political spectrum and gain recognition as a distinct point of view. Over and above any hostility journalists had to free-market views, there was no conceptual space within their conventional wisdom for a political philosophy that combined free markets and free minds.
|In a free market, consumer sovereignty and competition tend to create instability when sellers learn to game the system too well... In a technocratic system, it is more difficult for consumers to exercise countervailing power. Innovative competitors are often precluded by regulation. Suppliers tend to apply concentrated lobbying power to protect their interests, while the diffuse interests of the consumer are poorly represented in the political process. ... Centralized, regulated systems look good on paper, and they may be effective as they start. However, market systems learn faster, because competitive innovation prevents a market from getting captured by the incumbents who have learned how to game the system.
|A truly free society is based on a vision of respect for people and what they value. In a truly free society, any business that disrespects its customers will fail, and deserves to do so. The same should be true of any government that disrespects its citizens. The central belief and fatal conceit of the current administration is that you are incapable of running your own life, but those in power are capable of running it for you. This is the essence of big government and collectivism.
|Government spending on business only aggravates the problem. Too many business have successfully lobbied for special favors and treatment by seeking mandates for their products, subsidies (in the form of cash payments from the government), and regulations and tariffs to keep more efficient competitors at bay. Crony capitalism is much easier than competing in an open market. But it erodes our overall standard of living and stifles entrepreneurs by rewarding the politically favored rather than those who provide what consumers want.
|I own myself the friend to a very free system of commerce, and hold it as a truth,
that commercial shackles are generally unjust, oppressive and impolitic -- it is also a
truth, that if industry and labour are left to take their own course, they will generally
be directed to those objects which are the most productive, and this in a more certain
and direct manner than the wisdom of the most enlightened legislature could point
|The issue of this campaign -- it IS that word socialism. Some people like it. Younger people like it. Those of us like me, who grew up in a cold war and saw some aspects of it while visiting places like Vietnam, like I have, and seeing countries like Cuba, being there. I’m seeing what socialism’s like. I don’t like it. OK? It’s not only not free. It doesn’t freakin’ work!
|Dr. Ron Paul
|You can't save free markets by socialism, I don't know where this idea ever came from. You save free markets by promoting free markets and sound money and balanced budgets. The whole reason why nobody wants to address the real problem is, we're spending a trillion dollars a year overseas running an empire, and it's coming to an end. This country is bankrupt, and we won't admit it. Eventually though, the dollar will go bust, and we will bring our troops home, and we will live within our means, but we ought to do it sensibly, rather than waiting for the collapse of the dollar, and this is what we're doing, we're on the verge of destroying our dollar. And then, you think we have problems now, problems then will be a lot worse, it'd look like the Weimar Republic, or a third world nation. And a lot of people know that, and they're scared to death, but we don't need to be making the problem worse by just propping up everything with more government programs, more inflation, and more helicopters, it won't work.
|Dr. Lawrence W. Reed
|It constantly amazes me that defenders of the free market are expected to offer certainty and perfection while government has only to make promises and express good intentions. Many times, for instance, I’ve heard people say, "A free market in education is a bad idea because some child somewhere might fall through the cracks," even though in today’s government school, millions of children are falling through the cracks every day.
|Franklin D. Roosevelt
|Are we going to take the hands of the federal government completely off any effort to adjust the growing of national crops, and go right straight back to the old principle that every farmer is a lord of his own farm and can do anything he wants, raise anything, any old time, in any quantity, and sell any time he wants?
|Ruff's Third Law of Economic Dynamics: "An economy in motion tends to stay in motion, and an economy at rest tends to stay at rest. A free market is constantly in motion. A centrally planned market slows until it eventually dies completely.
|Laissez-nous faire, laissez-nous passer. Le monde va de lui meme.
(Let us do, leave us alone. The world runs by itself.)
|It's worth what it's worth when it's worth it.
|Not understanding the process of a spontaneously-ordered economy goes hand-in-hand with not understanding the creation of resources and wealth.
|Craig R. Smith
|Protection of political speech advanced two important democratic goals:\\1) an informed citizenry that would be capable of making educated decisions on matters of public concern, and \\2) a free and open marketplace of ideas wherein the truth would ultimately prevail… Only through a vigorous and spirited public debate could citizens be educated about the actions of their government and react responsibly.
|Charles T. Sprading
|Does it not seem a vast waste of valuable human material that the pioneers of thought, those who by their genius dare to clear unknown paths in the arts and sciences and in government, should have to conform to the dictates of that non-creative, slow-moving mass, the majority? An appeal to the majority is a resort to force and not an appeal to intelligence; the majority is always ignorant, and by increasing the majority we multiply ignorance. The majority is incapable of initiative, its attitude being one of opposition toward everything that is new. If it had been left to the majority, the world would never have had the steamboat, the railroad, the telegraph, or any of the conveniences of modern life.
|I started out by viewing the marketplace as a cruel place, where you need intervention by government and lawyers to protect people. But after watching the regulators work, I have come to believe that markets are magical and the best protectors of the consumer. It is my job to explain the beauties of the free market.
|Liberty, human dignity, a higher standard of living is fundamental. And, steadily, I think, people are beginning to realise that you don't have those things unless you have a pretty large private enterprise sector. Any Iron Curtain country has neither liberty, nor a very high standard of living. The two things go, economic and political freedom, go together. I've been right in the forefront of saying that, here, in the States, and it's very interesting to me now, to see a number of articles from people who are taking up the same theme. They are disturbed that Socialism is reducing liberty and freedom for ordinary people, and that's really what matters.
|Ludwig von Mises
|The market is not a place, a thing, or a collective entity. It is a process.
|Ludwig von Mises
|Economic control is not merely control of a sector of human life that can be separated from the rest; it is the control of the
means for all our ends.
|Ludwig von Mises
|Depression and mass unemployment are not caused by the free market, but by government interference in the economy.
|Ludwig von Mises
|Those who call themselves "liberals" today are asking for policies which are precisely the opposite of those policies which the liberals of the nineteenth century advocated in their liberal programs. The so-called liberals of today have the very popular idea that freedom of speech, of thought of the press, freedom of religion, freedom from imprisonment without trial -- that all these freedoms can be preserved in the absence of what is called economic freedom. They do not realize that, in a system where there is no market, where the government directs everything, all those other freedoms are illusory, even if they are made into laws and written up in constitutions.