Wednesday, December 26, 2018

Economic Freedom ?

I have been reading some lovely tomes...plucked from the silent shelves of my local college library.
(btw...yes, just for being a resident I have free usage of their library.....even without being a student there ....yay me)

I have been pondering a statement that I read in
 "Crash Proof- How to Profit from the Coming Economic Collapse" written by Peter D. Schiff and published in 2007.
Page 177....the second paragraph and part of the third paragraph....permit me to quote it verbatim:

"Pundits will argue that China's economic viability is limited because it is not a democracy. I say the opposite is true, that it is precisely because it is not a democracy that China will likely be successful.
   What is of vital importance for economic success is economic freedom, meaning the protection of private property, the rule of law, and minimal regulation and taxation, not the right to vote."

How does that statement make you feel? Do you wholeheartedly agree? Do you find his statement to be offensive or tantamount to treason?

As for me I find his viewpoint to be refreshing and thought provoking...because sometimes in the West, we get blinded by our love for democracy, and don't give proper credit to the "other stuff" that is required to be built and maintained in a country's DNA in order for us all to restore and enjoy lengthy seasons of prosperity.

I would be most interested in what you my readers, think or feel about Peter's comments on economic freedom. Please do feel that your voice is most welcome here. I look forward to reading and/or publishing your comments.