It is entrepreneurial business that creates prosperity, not politicians. Government cannot create jobs. The miracle of a government summer employment grant is more than offset by the anti-miracle of higher taxes and the private businesses that fail to expand and hire. The beneficial outcomes generated by a spontaneous free market order cannot be known in advance. The self-regulating nature of a market economy is comparable to the interdependent qualities of the biologist's ecosystem, not the mathematical precision wished for by so many economists in their static systems and equations.
Capitalism is The market, like gravity, is.
At the time of the original publication, Barry Asmus was a senior economist for the National Center for Policy Analysis. The Center produces studies that promote free enterprise, tax reform, limited government, and a strong national defense. October 1993, Vol.