In (slightly) more normal times, presidential campaigns will produce and run on a series of Big Ideas they hope will convince voters to flock to their candidate. We've seen such big ideas in the past – tax cuts, national defense, defeating communism, or, more broadly, expanding opportunity (and liberty) for all.
But big ideas are scarce on the campaign trail this year. This means that if we want to find signs of optimism, the best place to look is far away from the theatrics of Team Red and Team Blue.
Consider this item in the Wall Street Journal on industries and companies that helped beat back inflation, recession, and unemployment. No industrial policy or grandstanding politicians are required.
A prime example comes out of the oil patch, a place the Biden administration would prefer not to discuss (except when it needs a scapegoat for its own poor policies). It turns out there's an energy production boom underway that is lifting more economic boats than all of Mr. Biden's computer chip subsidies combined:
U.S. crude oil output hit a monthly record in September. For the first 10 months of 2023, it averaged 12.9 million barrels a day. That was about half a million more than the Energy Information Administration had projected for 2023, back in January 2022.
The oil market is global, so U.S. consumers only benefit indirectly from higher production. Still, that effect is important. The Organization of the Petroleum Exporting Countries, in cooperation with Russia, has tried to prop up prices by restraining production. And recent attacks on shipping in the Red Sea have interrupted shipments. Without stepped-up U.S. shale output, those forces would have pushed oil and gasoline prices higher.
Being the world's largest producer of oil and gas has its advantages – not just jobs and economic activity at home, but a means of influencing global markets (to the detriment of murderous regimes like Saudi Arabia and Russia).
There are fundamental issues at stake in this year's elections. It's not just about who occupies what office for how long, but also the vision of government and its relationship to the people those officeholders bring with them.
Both major parties are eager to get hold of the levers of power and control of the federal purse. It means they can reward their supporters, and increasingly, punish their rivals.
It's a nasty, selfish business that ultimately leads nowhere. The real leadership, creativity, and inspiration comes from individuals acting in their best interests in a free market. Almost always unintentionally, too, via what Adam Smith called the “invisible hand”:
Adam Smith described the opposing, but complementary forces of self-interest and competition as the invisible hand. While producers and consumers are not acting with the intent of serving the needs of others or society, they do. When you work, your goal is to earn money, but in the process you provide a valuable good or service that benefits others and society. The amazing part of this process is that there is very little government control. The bread you buy at the store arrived as the result of hundreds of self-interested people cooperating without a government bread agency managing production at each step along the way. The farmer grew the grain, the mill prepared the flour, the bakery produced the bread, the truck driver delivered the bread to the grocery store, the grocer stocked the shelves and sold the loaf to the consumer all without a Government Secretary of Bread Production telling any of them what, where, when, or how much to produce. It's as if they were being guided by an invisible hand that guided resources to their most valued use. In the words of Adam Smith:
“by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention.”
It beats corporate welfare and protectionist tariffs by a country mile.
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
If You Want A True Winner, Focus On The Free Market
Will Trump Dump JD Vance?
ANALYSIS – Is Trump regretting his VP pick? Will Trump tell Vance he is “fired”? When former President Donald Trump selected J.D. Vance as his vice presidential candidate soon after surviving an assassination attempt, some called the choice bold and a doubling down on Trumpism.
I said he could help Trump make his case in 2024 and be the GOP standard bearer in 2028. Still, I also said I would have preferred Trump had picked a woman, and that I had some reservations about Vance as VP, including his youth and inexperience.
Fox News’ Kilmeade Fires Back At Racism Allegations
Trump’s ‘Dying Wish’ Exposed – What He Wants If Assassinated
Kamala Harris ‘Owns’ All Of Biden’s Many National Security Failures
Does This Single Fact Signal Our Imminent Financial Collapse?
In (slightly) more normal times, presidential campaigns will produce and run on a series of Big Ideas they hope will convince voters to flock to their candidate. We've seen such big ideas in the past – tax cuts, national defense, defeating communism, or, more broadly, expanding opportunity (and liberty) for all.
But big ideas are scarce on the campaign trail this year. This means that if we want to find signs of optimism, the best place to look is far away from the theatrics of Team Red and Team Blue.
Consider this item in the Wall Street Journal on industries and companies that helped beat back inflation, recession, and unemployment. No industrial policy or grandstanding politicians are required.
A prime example comes out of the oil patch, a place the Biden administration would prefer not to discuss (except when it needs a scapegoat for its own poor policies). It turns out there's an energy production boom underway that is lifting more economic boats than all of Mr. Biden's computer chip subsidies combined:
Being the world's largest producer of oil and gas has its advantages – not just jobs and economic activity at home, but a means of influencing global markets (to the detriment of murderous regimes like Saudi Arabia and Russia).
There are fundamental issues at stake in this year's elections. It's not just about who occupies what office for how long, but also the vision of government and its relationship to the people those officeholders bring with them.
Both major parties are eager to get hold of the levers of power and control of the federal purse. It means they can reward their supporters, and increasingly, punish their rivals.
It's a nasty, selfish business that ultimately leads nowhere. The real leadership, creativity, and inspiration comes from individuals acting in their best interests in a free market. Almost always unintentionally, too, via what Adam Smith called the “invisible hand”:
It beats corporate welfare and protectionist tariffs by a country mile.
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
Norman Leahy
Will Trump Dump JD Vance?
Search
follow us
subscribe
Trending Stories
Will Trump Dump JD Vance?
ANALYSIS – Is Trump regretting his VP pick? WillBacklash Grows As Harley-Davidson Infected With Woke Virus
ANALYSIS – Say it isn’t so! Even asProject 2025 Will Return Sanity To Our Woke Military
ANALYSIS – “I disagree with some of the thingsNew Impeachment Investigation Launched Into Allegations Hunter Biden Invoked Joe’s Name
Congressional investigators are looking into further allegations againstCommentary
Will Trump Dump JD Vance?
Kamala Harris ‘Owns’ All Of Biden’s Many National Security Failures
Does This Single Fact Signal Our Imminent Financial Collapse?
Smoke Shop Shooting: 71-Year-Old Stops Armed Burglar
Security
Trump’s ‘Dying Wish’ Exposed – What He Wants If Assassinated
Kamala Harris ‘Owns’ All Of Biden’s Many National Security Failures
US Support For Israel In Its War Must Be ‘Ironclad’
US Fighters Intercept Chinese And Russian Bombers Near Alaska
Foreign Affairs
Trump’s ‘Dying Wish’ Exposed – What He Wants If Assassinated
Attacks Disrupt Paris: Major Infrastructure Targeted Hours Before Olympic Games
US Fighters Intercept Chinese And Russian Bombers Near Alaska
Disruptions Linger After IT Update Crashes Computer Systems Worldwide
Business & economics
Does This Single Fact Signal Our Imminent Financial Collapse?
Elon’s ‘Final Straw’ To Cost California Millions
Meet The Man Who Tracks Pelosi’s Investments – Guess His Earnings Last Month?
Congress Investigating Whether Woke Activists Broke Federal Tax Law With ESG Investment Schemes
heath & science
Old School Sold For Next To Nothing To Planned Parenthood
Elon Musk On Estranged Child: ‘Killed By The Woke Mind Virus’
Congressman Claims Biden Didn’t Recognize Him Despite Their Friendship
Congresswoman Sheila Jackson Lee Succumbs To Pancreatic Cancer
American Liberty Arms
Trump Shooter Put in Range Time Weeks Before Assassination Attempt
Armed Georgia Man And A Labradoodle Capture Inmate
More Anti-Gun Groups Fabricating Mass Shooting Data
The Truck Gun For Active Killer Interdiction: Realistic?
At American Liberty News, we eschew the mainstream media’s tightly controlled narrative to provide our readers with real news, real insights, and the means to take action. We seek out insightful coverage – and partner with knowledgeable and experienced people and organizations to bring you the information and insight our readers demand.
We humbly seek to provide the tools and information necessary for our readers to decide for themselves what is true and what is right.
TOP TAGS
TOP CATEGORIES
FEATURES
American Liberty News ©2022
Evolution Digital Media | 1900 Reston Metro Plz | Suite 600 | Reston, VA 20190