A man in the arena

I would be content if I could convince just a few liberals of the importance of free markets. The free market handles an incredible number of decisions and transactions. These are decisions and transactions that are subjective; I want grapes or I want oranges. No one can make that decision besides me. It cannot be simulated by a computer. The free market is what happens when I am allowed to make my own decisions.

Increasing the minimum wage does not help the poor because no one knows what the value of labor is except the guy doing the work and the guy paying him. Erase the minimum wage and let the market work.

To help the poor, enact a negative income tax. You made $800 this month, then we will give you $1200 to help out. Pick a minimum income and give the poor and unlucky the difference every month. No welfare, food stamps, or government interference in the market, just freedom and a helping hand.

Health Care? I work for the government. The last thing I want is a federal employee deciding whether removing my spleen is in the government's best financial interests. Let people buy their own health care, however don’t let them be overcome. Have the government pay for catastrophic health care costs (Costs say 20% over the patient’s annual income. Hat Tip: Jane Galt.) Pay the doctors directly what they charge. And let the market decide the prices.

I just want one liberal to understand that the market works, and that you can help people without destroying it.

# posted by D. W. Eifert @ 7:37 PM