Societal needs misconstrued as infringements on freedom, liberty
All political ideologies agree that the first obligation of government is the safety of its citizens. Police and firefighters are excellent examples.
Socialism is the idea that government should replace free markets in running the economy, giving politicians the power to set prices and make economic decisions instead of entrepreneurs.
Socialists fail to note that the more influence the government has in an economy, the worse the economy performs. For example, in 1957 the Communist government of East Germany planned the construction of a new car called the Trabant. Though they were produced by the central government for 30 years, Trabants, according to Time magazine, "smoked like an Iraqi oil fire, when they ran at all, and often lacked even the most basic features, like brake lights or turn signals."
In 2009, Democrats within the federal government saved General Motors from bankruptcy in part so GM could produce the Volt, a $41,000 gas-electric car that runs 50 miles per charge.
The inevitable failure of central planning is well-explained by the economist Friederich Hayek, who observed that the price mechanism of free markets, a product of millions of decisions by individuals, is the only way to effectively allocate resources. Central planning by government, no matter how well it might start, can never self-correct adequately, unavoidably resulting in food shortages, static assembly lines and decreased innovation.
Before anyone lauds socialism, he or she would do well to study The Index of Economic Freedom created by The Heritage Foundation, which correlates national economic freedom to economic health. Hong Kong and Singapore, regions with high degrees of economic freedom, also have high degrees of wealth and growth. By comparison, Cuba and Zimbabwe, socialist countries with resulting low degrees of economic freedom, have low gross domestic products and no growth.
Comparing the two African countries of Sierra Leone and Mauritius. Mauritius, the 12th freest country in the world, has a per-capita GDP of $12,500 and a life expectancy of 74 years. Sierra Leone, the 149th freest country, has a per-capita GDP of $759 and a life expectancy of 56 years. Where would you prefer to live?
Healthier economies lead to healthier citizens. Countries that protect private property rights and civil liberties have better child survival rates, literacy rates, and life expectancy, among others. When government intervenes in the economy, citizens give up more than wealth; they also give up their well-being. As Benjamin Franklin said, "They who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety."
More Like This
Column: Major candidates a major letdown
By Ross Abbott | Feb. 2, 2016