Turn on the evening news these days and within minutes you’re likely to hear an elected official talking about job creation.
It’s understandable that they would do that. People are rightfully concerned about the state of our economy and the job market, and they are demanding that politicians “Do something – anything!” to fix the problem.
Unfortunately, many of the policy ideas for “doing something” may only serve to prolong or worsen the economic downturn, because they violate foundational principles of the free market.
By “free market,” we do not mean a no-holds-barred, every-man-for-himself system without boundaries. A free market, in order to operate properly, requires a dependable system of justice, so that individuals and businesses can know the “rules of the game” within which they are free to operate.