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In the News: Economics for the Long Run

Many talk about the need to revive the economy, but few are talking about restoring the bedrock of prosperity: economic freedom. John B. Taylor writes an opinion piece in the Wall Street Journal about how our government’s policies should be decided based on the principles of economic freedom:

“… a lot of people are wondering what we can do to restore America’s prosperity and create more jobs…I believe the fundamental answer is simple: Government policies must adhere more closely to the principles of economic freedom upon which the country was founded.

At their most basic level, these principles are that families, individuals and entrepreneurs must be free to decide what to produce, what to consume, what to buy and sell, and how to help others. Their decisions are to be made within a predictable government policy framework based on the rule of law, with strong incentives derived from the market system, and with a clearly limited role for government.

Read the entire piece here.