Economic Freedom Basics: #adulting IV

Does this ring true with your experience. Where are people moving from and moving to? How does U-Haul set their prices? Epistemology.

Below is a map of the US with a measure of economic freedoms by state. Freedoms cannot be sustained by an ignorant population. In fact, tyrants prosper in the dark, on ignorance and fear. This leads to chaos and division. A sure means of loving our neighbor is to make decisions based on truth and charity rather than warm fuzzy feelings.

With the recent Coronavirus lockdowns, which economies fared the best? Which countries the worst? Who recovered the best?

The poorer less free countries went from poverty to starvation.

The poorer households in the US went from poverty to despair. Suicides, depression, divorce, abuse, government assistance rose but there was no mass starvation and the recovery was faster than anticipated, perhaps ever seen.

The resilience of a free economic market helped those to face the unprecedented challenge of a government enforced lockdown. Those countries or states that did not force business to close sustained fewer deaths from the virus and less disruption to people’s economic lives.

It behooves a free citizenry to have some grasp of economic freedoms and thus be able to judge those who promote prosperity for all from those who want to promote themselves Institute’s Fred McMahon touts benefits of economic freedom with John Locke Foundation use third party data to limit subjective opinions

Lebanon, Bosnia, South Africa local free market groups springing up

Take ownership of one’s own life. Willingness to learn. Society depends on it. How our role is realized.

Why is our state more or less free? Why is our city more or less free than the neighboring one? The government response to the virus is an excellent opportunity to see where the strengths and deficiencies of an economic freedom approach is valued.

The best experiential data I have is watching people vote with their feet. People know where it is best to live. Epistemology 101. Statistics can be twisted. Reality based knowledge.

Federal principle many different types of laboratories (states & counties) of what worked and what did not.

Founding Fathers’ insights Constitutional Federal Representative government.

There is a discussion of safety versus prosperity, but I tend to side with Ben Franklin, “A people who chose security over liberty will receive neither nor deserve either.”

3 Clear Subcategories for Economic Freedom for All to See

  1. Government Spending- leave more space for free market economic exchange

2 Taxation- more taxes from spending discourages investment and people moving to the place

3 Labor Market Freedom- minimum wage laws discourage those at the poorest and least educated from being able to enter market, unions control labor, size of government employment pulls these people out of free market.

Leaves more room for growth. Greater freedom. Tough to live off minimum wage. Son of small business owners, carry burden can’t stay open. Finding appropriate middle ground.