TCS Daily had an article on November 16 by Bartley J. Madden discussing the what role presidents should play in wealth creation. We know that wealth is created by businesses that provide goods and services that people want and/or need.
Certain presidential candidates seem to think that somehow the whole process would work better if government bureaucrats somehow control the decisions business makes.
Wealth creation, over the long term, is driven by business success in serving customers. Free markets provide a natural discipline to weed out activities that do not add value to customers. In business, the status quo is never a long-term, viable option. Society benefits when skilled business leaders anticipate the future and make early decisions to better utilize resources.
Unfortunately, many people are heavily influenced by some news media that preach a fixed-pie-and-keep-others-from-the-table mentality. Wealth creation is missing from their world views. Somehow they have overlooked the essential facts that business is a creative activity, and that something always must be created before it can be used by its creators, voluntarily exchanged, or sent to Washington to pay taxes.
Politicians play a mega role in the extent to which markets are free or unfree. It is important, therefore, that we vote for candidates who are committed to keeping or making markets free. But are there enough free-market supporters to affect the presidential election?