October 8, 2014
Free market author and scholar, Thomas Sowell said, “The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.”
Arizona’s street corners seem to support Sowell’s theory. Each holds numerous candidate signs of various shapes and sizes indicating about every political office under the sun, the President and U.S. Senate excluded, is up for grabs.
As we survey the political landscape in Arizona for candidates who we would favor over those we would not, we apply two maxims – will the candidate(s) employ the principles of free market economics in all cases where applicable, and will the candidate not favor or provide incentives via government for one entity over another?
Why are these particular principles important for officials at any level, you ask?
Arizona faces a tough road ahead.
The state’s budget will likely face a large shortfall in FY 2014-2015, which begins just inside six months from the day we swear-in our next Governor.
History has shown that when state leaders cut spending and shift monies from one pot to the other to balance the state’s budget, municipalities feel the pain in order. In turn, cities, towns and counties take action to balance their budgets, and the result is not always favorable for the taxpayer.
Reports show Arizona lags behind other states in the economic recovery effort, and there’s really no sign of an Arizona economic boom on the horizon.
So, why must free market choices prevail in tough times? The answer is because more punitive measures in the form of higher wage mandates, higher taxes, more regulations and favoring one sector over another only act to harm producers, and take off the table more capital that should be up for reinvestment and job creation.
To grow our economy we must have policies at every level that encourage Arizona’s entrepreneurs, small, medium & large to create, grow and re-invest profits in an open and as least-restrictive business environment as possible. We must have free market environments that do not hinder prospective growth, but rather enhance it.
These steps logically lead to greater success for Arizona’s businesses, and in turn greater revenue for Arizona’s governmental needs.
Many public servant positions have no shortage of candidates this election. We encourage you to choose candidates wisely by choosing those who support free markets.