Brain357
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- Mar 30, 2013
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- #501
A Better Way to Promote Growth
Corporate welfare must come to an end if we want an economy which best fulfills its purpose, improving the lives of the most amount of people. The truth is that good businesses simply do not need the state’s handouts. Only bad ones do. If legislators truly wish to see their community grow and develop, they would be wise to pursue other reforms.
The best path for a legislature to take is to get themselves out of the private sector’s way. Economic growth is slowed, halted, or even reversed when the state taxes, regulates, or otherwise violates private property rights. Removing licensing laws, lowering taxes, and repealing burdensome regulations would all be great choices to accelerate economic development and promote the welfare of local communities. Crucially, these reforms should be as generally applicable as possible to avoid the same harmful and distorting effects of the current corporate welfare programs.
"Economic Development" Is a Corporate Welfare Scheme | Nathan Keeble
Corporate welfare must come to an end if we want an economy which best fulfills its purpose, improving the lives of the most amount of people. The truth is that good businesses simply do not need the state’s handouts. Only bad ones do. If legislators truly wish to see their community grow and develop, they would be wise to pursue other reforms.
The best path for a legislature to take is to get themselves out of the private sector’s way. Economic growth is slowed, halted, or even reversed when the state taxes, regulates, or otherwise violates private property rights. Removing licensing laws, lowering taxes, and repealing burdensome regulations would all be great choices to accelerate economic development and promote the welfare of local communities. Crucially, these reforms should be as generally applicable as possible to avoid the same harmful and distorting effects of the current corporate welfare programs.
"Economic Development" Is a Corporate Welfare Scheme | Nathan Keeble