This is encouraging to me as well. I have wanted the GOP to actually say WHY free markets are better than central planning, not THAT they are better for a long time now.
I think people seriously misunderstand what capitalism is. It isn’t so much a policy so much as it is a lack of a policy, that is letting people interact as they see fit in the marketplace with government acting as the agent that prevents fraud, crime, murder, embezzlement, etc. and protects contracts and property rights.
Capitalism is most certainly not state supported monopolies, price and wage controls, centrally managed money and credit, protective tariffs, heavy regulation and taxation, redistribution based on egalitarianism, etc. And
Capitalism most certainly is not consumerism to the extremes we have seen it. Consumption is only made possible by savings, investment, and production all of which the market determines most efficiently based on consumer preferences, profit and loss, price system, etc. Sure we can live off debt and inflation for a while, but this in no way constitutes a sound, healthy, sustainable, or productive economy.
Capitalism is most certainly not state supported monopolies, price and wage controls, centrally managed money and credit, protective tariffs, heavy regulation and taxation, redistribution based on egalitarianism, etc.
Well said. The system is so warped now that we have over regulation of the financial markets to protect from the excessive risk taking made sensible by the moral hazards created by explicit (as well as implicit) government backed insurance against failure. Now we've added another moral hazard - too big to fail - which will in turn require additional regulation, and so on...
And each step of the way, each additional handcuff on the market here, opens the door for any competitors moving TOWARDS more market oriented economies to kick our rears in the global marketplace.