Monday, April 23, 2012
Prager University: "The Welfare State and the Selfish Society": Some of the Differences between Economic Liberalism and Democratic Socialism
Again I know I've said this several times now, as well as recently. But there's so such thing as a Free Market Economy in the World. In any country that has a National Government. With maybe the exception of Somalia and Afghanistan, who both don't have governments. That can defend and govern their countries on their own. The idea that America has a Free Market, is a myth its fiction. We subsidize our Private Industries and have countless subsidies for them. Costing in the billions if not hundreds of billions of dollars. So does Canada and Europe and probably Japan as well. If you believe in Free Market Economics someone like Libertarian Professor's Milton Friedman and Walter Williams. You don't believe in things like Tax Loopholes, Corporate Subsidies and Corporate Welfare. You believe that all business's should be able to do as well, based on the products and services that they sell. And how much money they make selling their products and services. And that these business's shouldn't be regulated.
What America has is American Capitalism or at least what we use to have. Is American Capitalism, Economic Liberalism. Before the Bush Administration came to power in 2001 and they installed Supply Side Economics. Which is basically Economic Neoconservatism. What Economic Liberalism is based on, is having strong Private Enterprise. Thats regulated well enough to protect innocent people from being abused. But where government doesn't try to run Private Enterprise. Where all business's and individuals are taxed based on their ability to pay. But not to the point, where they lose incentive to be profitable. Or to the point that they go out of business. Where there's a Safety Net for people who fall through the cracks in the economy. And can't support themselves but helps them get back up to become Self Sufficient. And where we have an Education System that provides future workers the skills that they need to be successful. And an Infrastructure System so people can get around safely and efficiently.
A major difference between Economic Liberalism and Democratic Socialism. Which is what's practiced in Europe. Is American Workers are expected to take care of themselves. Be able to do as well as they can based on their skills and production. And where we have a system that allows for Americans to get themselves the skills. For them to be as successful and as productive as they can. And if they fall down, a Safety Net to help them get back up. Where in Europe take Britain, France and Sweden to use as examples. The Welfare States there are so generous, all funded through high taxes. That the people there can live off the benefits provided to them by government. They have a job, earn a living, government takes most of their money from. And gives them back what they feel they need to survive. The Welfare Benefits in these countries are a hell of a lot more generous then they are in America.
The American Economy hasn't fallen because of Economic Liberalism but because we moved away from it. Our Federal Government became Fiscally Irresponsible with a Borrow and Spend Supply Side Fiscal Policy. That we are now trying to dig our way out of, we stopped regulating Private Enterprise. While we kept subsidizing them with Corporate Welfare and other things. And by the way a lot of the economies in Europe aren't doing very well either. And Britain, France and Sweden are all looking at their Welfare States. And looking to make savings in them.