I was pleased to see that in their new book, “Free Market Revolution: How Ayn Rand’s Ideas Can End Big Government,” authors Don Watkins and Yaron Brook zero in on a subject that is dear to my heart: the morality of the free market. Unfortunately, it’s a subject that goes virtually unmentioned even by those politicians who praise the merits of capitalism.
Such politicians insist that the goodness of capitalism lies in the fact that it improves the well-being of almost everyone in a society. Sorry, but even though that is certainly true, it is not the moral justification for capitalism.
The moral justification is that all men and women, no matter their economic status, have a natural right to pursue their own financial well-being and enjoy all the fruits of their labor without interference from others – especially politicians and government bureaucrats.
This is true regardless of whether their actions benefit others. Fortunately, however, free-market competition virtually guarantees that others will benefit. But that’s just a nice bonus that comes with capitalism.
Which brings us to the upcoming election. If Barack Obama wins re-election, any questions about capitalism will, of course, become moot. Given that he would not have to be concerned about winning another election, his second term would bring about a rapid end to what is left of the American Empire. He would simply ignore both Congress and the Constitution even more than in the past and seamlessly implement a de facto dictatorship.
That, in turn, would plunge us into a collectivist dark ages that would extinguish initiative, entrepreneurial activity and wealth creation. The only “solution” would be to have the Fed increase its efforts to ramp up the money supply in order to cover the rapidly increasing deficits, with the resulting runaway inflation being the perfect excuse to declare a state of emergency and suspend future elections.
But what if Mitt Romney wins on Nov. 6? Though he certainly is not an angry, malevolent ne’er-do-well like Barack Obama, there is a 99.99 percent chance that under his watch we would simply return to the business-as-usual welfare-state policies embraced by every president (including Ronald Reagan) since FDR.
Don’t get me wrong here. Ronald Reagan did a better job of defending the free market than any other president in my lifetime. But being the best also means being the least bad, and, unfortunately, his actions did not live up to his words.
The reality is that government will continue to grow no matter how good the intentions of anyone who occupies the Oval Office. That’s because, like people who are about to be executed, we serfs desperately agree to support any candidate who promises to prolong our life (or, more properly, the good life). And this time around, that person happens to be Mitt Romney. Republicans are convinced – and they are right – that they cannot get elected by naming specific entitlements they would cut or specific government agencies they would eliminate.
Worse, even if they tried to seriously cut entitlements or eliminate such anti-business government tentacles as the EPA, FTC, or DOE, they would be overwhelmingly voted out of office in the next election. Remember, even if Republicans controlled the House and Senate, Romney/Ryan would still be working with status-quo statists like Mitch McConnell and John Boehner.
Nevertheless, as a result of entrepreneurial optimism, a temporary spurt of artificial prosperity is likely to return if Romney is elected. But since nothing major will be done about government spending – especially entitlement programs – the deficit and national debt are guaranteed to continue to increase.
Thus, any uptick in the economy should be viewed as nothing more than a pause that would give us a bit of time to begin laying the foundation for educating future generations about the evils of collectivism and the morality of free markets. Romney’s role in history would then be that of a placeholder until the Free-Market Cavalry came to the rescue.
And just who comprises the Free-Market Cavalry? Frank Chodorov gave us some insight into that question in his book, “The Income Tax”:
If, for instance, those who prate about “free enterprise” were willing to risk bankruptcy for it, even as the men of the Declaration risked their necks for independence, the present drive for the collectivization of capital would not have such easy going. Assuming that they are fully aware of the implications of the phrase they mouth, and are sincere in their protestations, the fact that they are unwilling to suffer mortification of the flesh disqualifies them for leadership, and the case for “free enterprise” is hopeless.
The willingness to suffer mortification of the flesh in an effort to topple America’s welfare state is the only qualification you need to become a member of the Free-Market Cavalry, whose job, if Romney is elected, would be twofold: 1) spread the word about the morality of capitalism, and 2) be willing to name specific government programs and agencies that you believe should be eliminated. Not downsized; eliminated.
All this by way of saying that if Romney is elected, you should not get caught up in the euphoria of the moment and make the mistake of thinking happy days are here again. If you need a sobering reality to help you avoid such a mistake, just remember that if Romney fails in his placeholder duties, waiting in the wings for the opportunity to finish the job of transforming America into a Third World country is that same unvetted, shadowy Kenyan who made a clear pledge to voters four years ago – and has made good on that pledge!
If you’re wondering, “Would he actually have the chutzpah to run again?” the answer is a resounding “Yes!” And you can rest assured that the media and his adoring Obamavik followers would fully support him in another run for the White House. The destruction of America is not a game with the Duplicitous Despot. It’s a lifetime mission.