A Quote by Joe Conason
The problem isn't that conservatives are wrong about the efficiency of markets or the creativity of enterprise. It's that they have made false idols of both, usually without acknowledging that markets work best when well regulated, that private enterprise cannot meet every human need, that government has always played a critical role in our economy, and that the profit motive can be socially and environmentally destructive as well as dynamic.
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When shallow critics denounce the profit motive inherent in our system of private enterprise, they ignore the fact that it is an economic support of every human right we possess and without it, all rights would disappear.
Trickle-down economics doesn't work, but we need the power and innovation that comes from the free enterprise system. There's no way we're going to decarbonize the American economy without innovation and the profit motive. It's just not gonna happen.
You need a government that believes in government. It also believes in markets and wants to give markets the best, the greatest opportunity, but is trying to govern well.
I was a Republican because I thought that those were the people who best supported markets. I think that is not true anymore. I was a Republican at a time when I felt like there was a problem that the markets were under a lot more strain. It worried me whether or not the government played too activist a role.
Hedge funds, private equity and venture capital funds have played an important role in providing liquidity to our financial system and improving the efficiency of capital markets. But as their role has grown, so have the risks they pose.
The government can always rescue the markets or interfere with contract law whenever it deems convenient with little or no apparent cost. (Investors believe this now and, worse still, the government believes it as well. We are probably doomed to a lasting legacy of government tampering with financial markets and the economy, which is likely to create the mother of all moral hazards. The government is blissfully unaware of the wisdom of Friedrich Hayek: "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.")
In actual
fact, it is the State, i.e., the taxpayer who has become responsible
to private enterprise. In Fascist Italy the State pays for the
blunders of private enterprise Profit is private and individual.
Loss is public and social.
There's room in the Republican Party for anyone who wants to be a part of the values that we espouse when it comes to the role of government, free enterprise, free markets.
The rationale for the vast network of government welfare programs as well as regulation and control over private enterprise is based on the socialist analysis of the market economy.
...free enterprise, [is] a term that refers, in practice, to a system of public subsidy and private profit, with massive government intervention in the economy to maintain a welfare state for the rich.
Since the dawn of civilization, markets have been ubiquitous. Many of us have benefited from their focus and efficiency. Yet two widely held beliefs - that markets are best left unregulated and that markets are inherently benign - are naive and outdated.
The analysis in the era of Ronald Reagan and Margaret Thatcher was that government was interfering with the efficiency of the economy through protectionism, government subsidies, and government ownership. Once the government "got out of the way," private markets would allocate resources efficiently and generate robust growth. Development would simply come.
The quickest and surest way to production, prosperity, and economic growth is through private enterprise. The best way for governments to encourage private enterprise is to establish justice, to enforce contracts, to insure domestic peace and tranquility, to protect private property, and to secure the blessings of liberty including economic liberty - which means to stop putting obstacles in the way of private enterprise.
Private enterprise is ceasing to be free enterprise. Private enterprise, indeed, became too private. It became privileged enterprise, not free enterprise.
I guess my view is I believe less governance is best governance and that government should not do what the free enterprise and private enterprise and indidividual entrepreneurship and the states can do.
When you delve deep enough, you find that practically every great fortune and great enterprise in America have sprung from the courageous enterprise of some individual. It was Commodore Vanderbilt's enterprise in switching first from running a ferryboat to running other ships, and then, when he was well along in years, his enterprise in switching into railroading, that created what was to become one of the most notable fortunes in the history of the world.
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