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Markets never fail. They cannot fail. Free markets are perfect representations of reality. Indeed, they are reality itself. Markets may not effect your agenda or advance your goals, but they do NOT fail. Ever. It is childish to say that they do fail when they don’t deliver what you want. To say that the free market fails is to say that reality fails. Or to say that truth fails – which makes absolutely no sense. Reality simply is.
Government interference in the free interactions of people, i.e., the market, is always an attempt to cheat reality. Insane and childish. It’s a game of let’s pretend. Let’s pretend that everybody has earned a house. Let’s pretend that everybody is equally credit worthy. Let’s take money from some people and give it to others so they can pretend that they are prosperous. Let’s mandate minimum wages so that people can pretend that they are contributing more than they are, thereby keeping them down by stealing their incentive to actually improve themselves and to be more productive. The corporate bailouts, more let’s pretend. Let’s give them billion-dollar handouts so that we can all pretend that everything is OK.
But it can’t be done. You cannot cheat reality. You can only play make-believe and make matters worse. It sometimes seems that the make-believe solves problems, but it just covers over them and makes things worse down the road.
It can often seem that government interference helps matters, but it only makes things worse. This is because productive people work harder and smarter to compensate for the burden place on the economy by the distortions caused by the childish let’s-pretend effect of political interference. The burden is still there. It’s just people are pushing up more than government is pushing down. The ever-increasing destruction of government’s let’s-pretend policies is cumulative, and reality will win out. Eventually, the economy of government policy make-believe will come crashing down. It is not free markets that crash, because reality can not crash. It is the distortion and disruption created by government coercion that comes crashing down.
The only solution is not more make-believe, but the rejection of make-believe and the acceptance of reality. The solution is free cooperation and not top-down force. People want to work, create, produce. They are looking to support themselves and their families. To improve their lot and secure their future they earn, spend, save and invest. Research, develop, design and invent. Start and build businesses. The result being economic growth and expansion.
There are two forces at work on the economy: people pushing up, and government force pushing down. The less government distorts reality with its coercive make-believe, the more prosperity. The choice is simple. Government interference, an attempt to thwart reality, is childishness writ large and only creates problems. It is the voluntary cooperation of free people that propels growth and prosperity.
Freedom will not produce a perfect world. Just the best possible world.
J. Frank Jad