Let us not forget the contribution of free economies to making life safer. It wasn’t the regulations that made the difference. It was the innovations in the context of free enterprise.
People talk often of how technology is disruptive. That’s only part of the story. Technology also serves the oldest values and the most ancient aspirations of the human experience, and does so in a way that is organically peaceful with how we live. It’s the much-maligned market economy that makes it all possible, and does so without elections, speeches, legislation, and scary leaders we don’t like. We should love markets more than we do. Their proven benevolence forms a beautiful narrative history of our lives, connects the generations, and points to a bright future.
Private property rights are the foundation of free enterprise. Without property rights trade will be suppressed and pushed underground. Growth is strangled and good people resort to dealing with corrupt officials and black market sellers just to get through their lives. We are all made worse off when authorities have excessive discretion, and without proof of criminal guilt, no one should have their hard-earned possessions taken away.
Economic Education Bulletin
Vol. XXXII, no. 5 | May, 1992
proceedings from the International Economic Conference, Progress Foundation
includes material by Dr. Gerhard Schwarz and George Gilder