Free Market Creative Progress
Mitt Romney’s Bain hired people and it fired people, it made money and it lost money, created business and destroyed businesses, won some and lost some and allocated capital as effectively as allowed in the real world and certainly more effectively and rationally than coercive government’s fiat could have or has. This is creative progress in the best sense of the word.
Resources can be allocated in either of two ways by voluntary, cooperative, collaborative free market or by government rationing, a system of coercive redistribution of resources tainted by selfish political power.
There is not a hint of Corporatism in what Mitt Romney’s Bain has done.
Rick Perry’s Texas Model personifies the Bain model. Less government; more jobs and a higher standard of living for all.
It is good thing that this primary is forcing us to articulate the case for the free market, where a productive order emerges spontaneously and evolves unpredictably. Turbulence in a turbulent world is not to be expected or feared.
Don Boudreaux and Russ Roberts at Café Hayek, where orders emerge, offers an accessible, clear and academically based explanation and defense of Free Markets.