Competition in global markets is tightening, each moment. It is being predicted that China will surpass U.S. as world’s number one economy. Just a couple of decades ago, China’s performance in global markets was pathetic. Suddenly, after making free market reforms in its economy, China became a powerhouse of manufacturing. It became just another example of the benefits of free markets, and opening up of China’s markets was in fact another confirmation from a communist country that communism doesn’t work. Although, China still has a long way to go, to become a free society. Even its markets are still plagued with cronyism, corruption and government manipulations.
We are the flag bearers of Capitalism, and open and free markets in the world. We are the ones who reaped the greatest rewards from Capitalism. We became world’s largest and richest economy within two hundred years. What happened then? Our decline, depression and recessions, slowed growth and smaller growth rates, devalued currency and inflation, must have a reason? Something must have caused these adverse changes. Those cannot happen by themselves? Our history shows the reasons is very simple and obvious. We took a turn that is in totally opposite direction than Russia, China and India.
They moved away from closed and centralized economies. On the other hand, we gave up free market Capitalism, and destroyed our economy with ever complicating and extending government regulations. Unfortunately, we fell for the similar arguments, as were for Soviet, Chinese and Indian people. Those were, and those are that Capitalism is dirty, unjust, and favors rich and powerful. Government is the source for ultimate justice, equality and level plain field. We did not, and we do not seem to understand that these arguments are undoubtedly proven to be completely false and baseless in socialist and communist countries. The failure of these assumptions was the bases for those countries’ move away from centralized economies.
On the contrary, our success with Capitalism in past is not a theory or assumption. It is a proven fact of very recent undeniable history. Question is than why would we give up the most successful economic system, ever, and go for a complete and utter failure? Just give a serious look to our history, and everything will be crystal clear to you. After all, we are not talking about a remote past of some distant nation. We are talking about our own glorious, recent past.
Before us, there was no concept of government of the people, by the people, for the people. Our founding fathers based our whole system on this golden principle. Countries and nations were supposed to belong to God or elite, the financially, socially, religiously and even physically powerful. People and citizens used to be “masses” or “commoners”, who had not specific rights, authority or power. They were expected to accept and be happy with whatever God, theocracy, aristocracy or bureaucracy choose for them. Our founding fathers gave us the constitution which started with phrase “We the people” deciding it forever without any doubt that this country is owned by its people, not elite, not God, not government.
They designed and formed a very small government with very limited constitutional authority, in a world where governments have always been big and powerful, and almost always existed as the final authority. They also introduced a very novel and unique but genius concept of check and balances among different branches of government. Constitution of United States of America made it absolutely clear that no one in government should have unchecked, excessive and overwhelming authority. The branch of government which directly represents people, House of Representative, retained the most authority.
It guaranteed people’s right to one person one vote, keeping ultimate authority in the hands of people. It provided the most extensive charter of individual freedom, ever, in its “Bill of Rights” with ten most powerful amendments. These amendments provided us with certain “inalienable rights” which means that no person, no institution, no authority and no government can ever take any of these rights away. These rights included some of the landmark freedoms to individual. For example, freedom of speech, right to bear arms, due process, etc. Above all, contrary to common belief, at the time, Bill of Rights made it absolutely clear that all authority is retained by “We the people” until and unless specified in constitution. It closed all the doors for future governments to say, since constitution is silent on this, so, government has this authority. Bill of Rights left no doubt about the fact, if constitution is silent on any subject than matter is automatically owned by people unless they authorize someone or some institution to attain an authority on that matter. It was this spirit, embedded in constitution which denied all the previous and existing wisdom, at the time. It was the free people, and undistorted markets which brought the prosperity, unmatched in human history, to us and to the world.
Unfortunately, later on, we started giving away those individual freedoms, under the notion that government can do this better than we can do ourselves. Result? As always it has been in history, government messed it up, big time. Ever increasing size of government, policing of the world, useless and endless wars, ever increasing taxation to finance the growing government, piling up of the most ridiculous rules and regulations and never ending government interventions in free markets, destroyed the whole basic concept and value. Instead of free markets and open competition, now, government picks up winners and losers by making a whole bunch of senseless excuses.
While Russia, China and India are adopting our past secrets of success, we must get back to our roots. Government and media are being controlled by big, rich and powerful corporations, and their lobbies. We must not let them play the games which favor their campaign financiers, owners and advertisers, and are aimed at defeating us, “We the people. We must restore the supremacy of greatest constitution ever written, demand the utmost respect for the best charter of individual freedom, ever, and claim back our true charge and control over the affairs of this country.
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