Now that the Presidential candidates are most likely Donald Trump and Hillary Clinton, I anticipate a continuation or worsening of policies that have and are producing a contracted space of possibilities for prosperity. Expanded government size and action are not a solution to greater wealth or betterment for the average person.
- Moderate tax rates across a broad base
- Government spending limited to receipts
- Sound monetary policy – a strong dollar
- Minimum impediments to free trade – trade with everyone
- Regulations constrained to only the essential rules for a functioning society, e.g. driving on the right side of the road (US); returning from regulatory overreach (always a response to severe economic contractions)
Selected from the Library
I hope you find value in this essay inspired by Free To Choose, a treatise by Milton Friedman and his wife Rose. My purpose, as always, is to prompt and aid you to reflect on the design, constitution and operations of your enterprise for the sake of improved performance. Being new at blogging, I'm very much on a journey of experimenting, exploring and practicing to discover what works both to contribute to my readers and to refine my own insights and thinking about competing successfully in the global marketplace. To succeed in business requires ultimately producing satisfactory economic and social wealth for the owners, investors, staff and other key stakeholders.