As a business owner I really love the free-enterprise system because it is a live opportunity for success and failure which really focuses my attention. I feel fully engaged, challenged and excited about the work I do. This is life in the free-enterprise system, fully engaged human emotions.
One little thing is going to crumple the bureaucracies that burden small businesses, the microchip. A reading of “The Great Crossover” by Dan Sullivan will explain the turbulence and visceral fear we are seeing in the eyes of the bureaucrats.
So, I am seeing the evidence of this principle #15 in my business life and can fully affirm its truthfulness.
“The Founders were fascinated with the possibility of setting up a political and social structure based on Natural Law, but what about economics? Were there Natural Laws for the marketplace?
A tome of five books on the subject was published just in the nick of time which gave them the answer. It came out in 1776 and was call The Wealth of Nations. It was written by a college professor in Scotland named Adam Smith.”
“…described by Adam Smith. Among other things, this formula called for the following:
1. Specialized productions – let each person or corporation of person so what they do best.
2. Exchange of goods takes place in a free-market environment without governmental interference in production, prices or wages.
3. The free market provides the needs of the people on the basis of supply and demand, with no government-imposed monopolies.
4. Prices are regulated by competition on the basis of supply and demand.
5. Profits are looked upon as the means by which production of goods and services is made worthwhile.
6. Competition is looked upon as the means by which quality is improved, quantity is increased, and prices reduced.”
I live in this world and it is a good one for the entrepreneur. Unfortunately we have seen some gross violations of these solid and sound principles such as, BAIL OUTS, TOO BIG TO FAIL AND THE ENTITLEMENT OF THE AMERICAN DREAM THROUGH POOR LENDING PRACTICES FORCED BY GOVERNMENT POWDERPUFFS.
“The Four Laws of Economic Freedom
Prosperity also depends on a climate of wholesome stimulation protected by law. Reduced to its simplest formula, there are four laws of economic freedom which a nation must maintain if its people are to prosper at the maximum level. These are:
1. The Freedom to try.
2. The Freedom to buy.
3. The Freedom to sell.
4. The Freedom to fail.”
I experienced all many times, succeeding more than failing and have learned much in each category about business, life and myself. This system of free-enterprise is ennobling and encouraging.
Skousen goes on the describe the socialistic vomit that has plagued our nation for about 100 years that lead to most of our current troubles.
Get out of our way. We know how to do it! Deregulate, allow Congress to control our monetary system and watch an economic boom like no other.
I encourage you to read this book.
God Bless You and God Bless America!
