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Free market


Those who believe in the free market claim, and can usually prove, that it provides the most benefits for the most people.  Their advice is:
   Education

  • Privatize the management of public schools.
  • Admit students on the basis of ability, not color, nor athletic ability.
  • Group students according to achievement, not age.
  • Hire teachers for ability, not creden­tials.
  • Pay schools for results.
  • Let parents choose the school for their kids or teach them at home.

Foreign affairs

  • Show the wisdom of ‘trade, not aid.’
  • Show how capitalism intertwines the economies of countries and lessens the chance of war.
  • Show that it promotes political stability, which is basic to attracting investment.  Capitalist countries progress more quickly than others.  People inside authoritarian coun­tries learn of this and press their govern­ments for more capitalism.
  • Show how it helped Singapore, Taiwan, Hong Kong, South Korea, and Japan.
  • Show the damage caused by socialism.

Health

  • Explore the usefulness of the unlicensed health clinics used by the poor.
  • Allow nurses, when qualified, to treat patients.  Allow dental hygienists, when qualified, to work on teeth.
  • Allow the free market to bring down the cost of health care.

Housing

  • Phase out rent control.
  • Allow urban homes­tead­ing and cheaper, basic housing.
  • Privatize public housing.

Labor

  • Allow right to work, work at home, and automation.
  • Phase out the minimum wage.  Then wages would seek their natural level.  This would pull down union wages and save consumers great amounts of money.
  • Allow many of the working class to leave school at 14 if they have jobs, as it is their orientation to go to work and start a family earlier than middle and upper classes youth.  [Laws requiring the 11th and 12th grades were supported by unions to keep the young from competing for jobs].
  • Hire competence, not credentials nor color.
  • Let­ employers decide when to retire workers.
  • Show how the decline of unions has helped. 

Minorities

  • Show how capitalism helps minorities who are underrepresented politically by giving them economic power and representation. 

Privatization

  • Show the success of private management of fire depart­ments, parks, transportation, mail, schools, hospitals, and chari­ties.
  • Promote private justice through ‘rent-a-judge’, mediation, and arbitra­tion.
  • Privatize regulation.  Private inspectors would bring order to the chaos of local, state, and federal codes.  A manufac­ture would choose among private inspectors [like Under­writers Laboratories which inspects electrical equipment].  The private inspector would be more honest as his company is liable for mistakes.  To avoid penalties or loss of business, the company would have to do a good job.  The public would get the benefits of high technology and life-saving drugs made safe by private inspectors; not what we have now ? high cost public regulation with no sense of safety, and in some areas, a lot of bribery. 

Social programs

  • Lower the minimum wage to create thousands of jobs for mental patients, runaways, drop­outs, delin­quents, derelicts, addicts, minorities, refugees, students, and the retard­ed, aged, and handicapped.  As one governor said, ‘The best social program is a job.’
  • Consider setting welfare payments below the wage of the lowest worker to get people to look for work (as was done in l8th century England).
  • Require those on welfare to work part or full time to ‘earn’ the money they receive.

These three steps would help the poor by making them more respon­sible for themsel­ves.  There would be fewer youths with free time and no work habits to fall into crime.

  • Let social agencies make a profit.  This would bring better management.
  • Let business hire the homeless for sub-minimum wages plus room and board.
  • Let the homeless settle next to city dumps, where they could use cast-off mater­ial for building shan­ties.
  • Find out why some prisons are almost self-sufficient.
  • Find out why many poor immigrants pass our poor.
  • Show how capitalism makes the disadvantaged responsible, and how socialism does the opposite. 

U.S. economy

  • Show where less government involvement promotes better goods and services, like appliances, shopping centers, and cars.
  • Show where more government in­volvement causes poor goods and services: shoddy postal service, poor elementary and secon­dary schooling, and poor long distance train service.
  • Phase out tariffs.  This would lower prices and force in­dustries to face the realities of the international market.
  • Reduce the capital gains tax [highest in the modern world].

Misc

  • Show how the free market could probably alleviate problems in the: nursing shortage, water shortage, solid waste disposal problems, protec­tion of wildlife, medical care, in­surance, illegal immigration, lack of science and math teachers, drug abuse, ‘amateur’ sports in college, etc.
  • Deregulate, lower taxes, cut back government.
  • In farming, phase out government involvement, as price supports have brought surpluses and price controls have brought scarcities.
  • Allow paralegals, where qualified, to do the work of lawyers.

 

Most government functions were handled by the private sector at the turn of the century.  Returning to this would break up public monopolies. It would utilize people who are less credentialed but often more able (as in private schools).

 

All of this is opposed by bureaucrats and unions as it threatens their jobs and turf.  It’s also opposed by many liberals in the media and academia who are leery of profit and feel solutions should come from government.

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One Response to “Free market”

Wonderful explanation

  • Anonymous August 12th, 2011 11:57 pm
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