I just finished watching the season finale of Gold Rush. It's more accurate to describe wealth creation in terms of capital, not money. Capital grows whenever someone digs gold out of the ground, pumps oil out of the ground, bakes a cake, or shoots an alligator for their hide. When something of value is created or uncovered, that's wealth creation. In 1980, the net worth of all US households and businesses was $25 trillion in today's dollars. By 2007, the net worth was around $57 trillion; that's $32 trillion in new capital that's created in that 27 year span.Originally Posted by Xander
The automobile, the light bulb, and electricity are all examples of innovations and inventions that were brought to market because Edison and Ford wanted to make money.Originally Posted by Xander
In general, corporations are far less dangerous than governments. My ideal society would be one where the government plays a very limited role (keeping out foreign invaders and fighting epidemics/diseases).Would you rather live in a world of corporations rather than governments?
Not sure what you are talking about. Many companies like Google pamper their employees and go so far as to drive them to work. The free market forces companies to compete for labor. Companies that mistreat employees aren't going to compete as successfully.Originally Posted by Xander
Bad example because there are plenty of laws against the drug trade.Originally Posted by Xander
Actually, lots of countries have followed the principles of lower taxes and reduced regulations to attract business because they recognize the success of Reaganomics. For example: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Mexico, Netherlands, New Zealand, Norway, Portugal, Spain Sweden, Switzerland, and the UK have all dramatically reduced income tax rates since 1980.If it were then everyone would see the genius you extol. Surely you must realise that if so many object so readily then there is a high chance that you're missing something.
Australia reduced the top income rate by 13%, Austria by 12%, Belgium by 26%, and the UK by 43%.
In addition, 21 nations have also reduced the corporate tax rate since 1980. Australia reduced the corporate tax rate by 16%, Denmark by 15%, New Zealand by 12%, Sweden by 12%, and the UK by 22%.
Wait a second. At least I've given tons of evidence in support of free market principles. You're willing to accept some wiki article on nothing but faith. That claim ("stronger incentives to maximize productivity") is entirely theoretical. Why don't you require the same burden of proof on that guy, lol?Originally Posted by Xander