Economic Liberty: A Right or a Privilege?

Source: Future of Freedom Foundation
by Jacob G Hornberger

“Ever since China began liberalizing its economy, it has become fashionable in some circles to suggest that China went ‘capitalist.’ This was especially true as economic prosperity in the country began rising. Not only were Chinese businessmen becoming millionaires and even billionaires, the standard of living of the Chinese people generally was soaring. The Chinese experience confirms what libertarians and Austrian economists have long maintained: that the greater degree of economic liberty, the greater the economic prosperity and the higher standards of living. … There is one big problem, however, with this phenomenon from the standpoint of public officials. As people become wealthier, they become more independent-minded.” (03/06/23)