Liberty and Prosperity: Ryan Advocates Wealth Creation, not Wealth Division

Sunday, September 16, 2012

Ryan Advocates Wealth Creation, not Wealth Division

Paul Ryan spoke the other day stating that the Romney/Ryan plan would foster wealth creation instead of wealth division. I, and the rest of America, would welcome more details, but at least someone running for national office has the right idea.

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About this Blog

This blog is dedicated to simple principles with nevertheless far-reaching consequences. To start with: The dominant goal of government economic policy should be wealth creation; and the thing government should avoid most is wealth destruction. Wealth is created through individual work, invention, and investment--this is something we all know. What we don't always acknowledge, however, is that wealth is also created by trade. Voluntary transactions create wealth, because they make both traders better off than they would be without the trade. Just as importantly, but even less acknowledged, involuntary transactions destroy wealth. Because most involuntary transactions are imposed by government, government is responsible for most wealth destruction.

The creation of wealth is nothing less than amazing, an under-appreciated miracle of human effort and ingenuity, which occurs millions and millions of times each day, all over the world. In its most robust form, wealth-creation lifts entire populations out of poverty, spawns innovation and invention, produces abundant necessities--food, shelter, medicine--and allows people to enjoy the most fantastic form of wealth there is: leisure. Wealth-creation should be the highest goal of any civil government, for it maximizes liberty and prosperity.

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Sunday, September 16, 2012

Ryan Advocates Wealth Creation, not Wealth Division

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