FTA: “He always used the phrase free market.”
As should we all since “capitalism” as a word/concept is actually a construct of Karl Marx, father of communism. As such, we should reject the use of that language and the associated concepts so as to advance the free markets, free people conversation.
#1. Free the marketplace from government interference.
#2-#5. See #1.
1) Don’t elect Democrats
2) Don’t elect Democrats
3) Don’t elect Democrats
4) Don’t elect Democrats
5) Don’t elect Democrats
.
Competitive Entry: The American market flourished for 180 years with high tariffs in place.
Competive Pricing: So we just need to lower the labor rate to match China’s $2 per day for a 12 hour day. Then our economy will be vibrant!!!
Stable Currency: Weren’t the Austrian School for a gold standards? Turns out the Federal reserve has maintained a currency that is far more stable than gold on a year to year fluctuation basis. If you look at it over 100 years, then the Fed’s money has lost a lot of value, but unless your are hiding cash in a mattress, that’s not as important as the year to year fluctuations in purchasing power. Under the gold standards we had major deflationary depressions every 20 years.
Rule of Law: who can argue with that. Governments define the rules of the market place. They also define the rules of international trade and there is no reason not to use that in our favor.
No more than half of GDP devoted to government. That seems excessively high as well as quite arbitrary.
Did any country ever adopt austrian economics. I think I remember one European country did, but quickly abandoned it.