A Quote by Jack Kemp
When democratic governments create economic calamity, free markets get the blame.
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Markets are a social construction, they're made from institutions. We in a democratic society create markets, we constitute markets, we bring them into existence, and we shouldn't turn markets over to a narrow group of people who regulate them and run them in their interests, rather they should be run democratically for the common good.
If a hurricane strikes, we can blame the president for not being there; we can blame Congress and FEMA; we can blame the state governments; but in the end, it's the mayors and the local city governments that have to be prepared for emergencies and be prepared to act.
Leo Crowley, Harry [Truman]'s Foreign Economic Administrator, tells Congressmen the theory...: 'If you create good governments in foreign countries, automatically you will have better markets for ourselves.' With that honeycunt staring you in the face, you'd forget your grammar too.
...governments, including free and democratic governments, are not really friendly to freedom and democracy. They abhor any rule of law that limits their powers and penchant for social engineering.
...countries don't create economies. It is entrepreneurs and companies that create and revitalize economies. The role of the governments should be to create a nourishing environment for entrepreneurs and companies to flourish, not to get in the way of economic development.
The American political scientist Francis Fukuyama has argued that liberal democracies, with their political freedom and economic success, have three important pillars: a strong government, the rule of law, and democratic accountability. I would add a fourth: free markets.
Part of my advantage is that my strength is economic forecasting, but that only works in free markets, when markets are smarter than people. That's how I started. I watched the stock market, how equities reacted to change in levels of economic activity, and I could understand how price signals worked and how to forecast them.
Governments are based pincipally on force and deception. Democratic governments are based chiefly on deception, other governments on force. And democratic governments, if you get too uppity, give up on the deception and resort to brute force, as a lot of us found out in the sixites. Those who didn't find out in the sixites will find out in the near future because we're going to have a rerun.
Everyone talks about freedom. All around the world different people, different races, different countries are fighting for freedom. But what is freedom? In America we speak of living in a free country. But are we really free? Are we free to be who we really are? The answer is no, we are not free. True freedom has to do with the human spirit-it is freedom to be who we really are. Who stops us from being free? We blame the government, we blame the weather, we blame our parents, we blame religion, we blame God. Who really stops us from being free? We stop ourselves.
Most of us at the Reserve Bank come from a background in economics and hence have a predisposition in favour of free markets and a sceptical attitude towards intervention in those markets unless there is a clearly defined economic rationale for it.
Free trade holds much of the blame for continued international conflict. Markets are said to possess wisdom that is somehow superior to man. Those of us in business who travel in the developing world see the results of such western wisdom and have a rumbling disquiet about much of what our economic institutions have bought into.
To my mind, there is a solution which has to do with democracy, because democratic governments are subject to the will of the people. So, if the people will it, you can actually create international institutions through the democratic states.
Here we have the heart of the difference between Hayek and Keynes: one knew that markets work to give us the best of all possible worlds, while governments create and exacerbate malfunctions; the other imagined that governments were somehow capable of both perceiving and correcting malfunctions by means of the printing press, provided the right technocrats are in charge.
You know we have Democratic centrists here to blame for the economic conditions driving this rightwing extremism. So the solution here, you know, is not Hillary Clinton and more of the Clintonism centrist, the centrist Clinton philosophy that is greeding this economic misery.
Markets are interested in profits and profits only; service, quality, and general affluence are different functions altogether. The universal, democratic prosperity that Americans now look back to with such nostalgia was achieved only by a colossal reigning in of markets, by the gargantuan effort of mass, popular organizations like labor unions and of the people themselves, working through a series of democratically elected governments not daunted by the myths of the market.
Now the masses of Latin America are electing governments they feel can take forward the democratic reforms of the last 20 years, and transform them into social and economic reforms. This is, I think, extremely important, because it also means that the left has abandoned the revolutionary solution proposed by Che Guevara and has taken the democratic path.
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