Tuesday, November 29, 2016

Making America Great Again

We, so tired of all the darkness in our lives
With no more angry words to say can come alive
Get into a car and drive
To the other side
--Joe Jackson

President elect Donald Trump's campaign slogan was 'Make America Great Again.' Of course, countries such as the US are merely collections of people. It is people living inside of countries who can act in great ways.

It is true, however, that capacity for greatness is influenced by a country's environment. For example, how a country's various legal and economic institutions are structured can place a wind at peoples' backs or in their faces on the path toward greatness.

Perhaps a more appropriate campaign slogan would have been 'Make America's Environment More Capable of Facilitating Greatness.' Unfortunately, it's not very catchy.

The most significant factor that influences a country's environment for facilitating greatness involves the extent to which its people are free. Free people can exercise their God-given right to peacefully pursue their interests. When people can freely act, great things happen.

Unfortunately, policies enacted during past administrations have made us less free. Moreover, many of Trump's campaign planks, such as protectionist trade policy and government funded infrastructure projects, serve as powerful headwinds that stall great endeavors.

It is reversing such policies, i.e., removing government force from the system, that is critical to an environment that promotes greatness.

Ron Paul suggests that ending the 100+ year dominance of the Federal Reserve over monetary policy is vital in this regard. The Fed's fiat monetary policies have destroyed the purchasing power of our currency and unnaturally tilted the scales toward more economic inequality.

During his campaign, Trump indicated that he is aware of these problems to some degree. It remains to be seen, of course, if he is serious about acting on them.

By removing government force from the monetary system, people can freely decide on things such as what constitutes effective money and how much borrowing should cost.

Ron Paul is correct. Monetary freedom lines the path toward greatness.

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