Liberty Links: “You Didn’t Build That”
26 July 2012 1 Comment
The following are a few links I find of particular value to our political and moral dialogue.
- There has been much controversy of President Obama’s notion of “collective” success rather than individual effort. His comments are quite frightening. Here is an excerptfrom his speech in Roanoke, Virginia.
“There are a lot of wealthy, successful Americans who agree with me — because they want to give something back. They know they didn’t — look, if you’ve been successful, you didn’t get there on your own. You didn’t get there on your own. I’m always struck by people who think, well, it must be because I was just so smart. There are a lot of smart people out there. It must be because I worked harder than everybody else. Let me tell you something — there are a whole bunch of hardworking people out there. (Applause.)
If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business — you didn’t build that. Somebody else made that happen. The Internet didn’t get invented on its own. Government research created the Internet so that all the companies could make money off the Internet.”
- Few statements will induce more fear than this: “If you want to get involved in business,” Sen. Orrin Hatch warned technology companies at a conference in 2000, “you should get involved in politics.” This of course begs the question: If successful businessmen answer to Washington, who does Washington answer to?
- The Ayn Rand Institute’s Don Watkins on how to combat statism: “Explain that all productive individuals—whatever their income—have the same basic interest in common: freedom. Explain that anyone who takes responsibility for his own life, prosperity, and happiness requires freedom from government interference—not handouts or handcuffs.”
- Mark Calabria, director of financial regulation studies at the Cato Institute, comments on calls to break up large banks that pose systemic risk to the economy. ”It is largely the moral hazard created by various government guarantees protecting “Too-Big-To-Fail” banks that caused the most recent crisis….Ultimately, Too-Big-To-Fail is a political problem, not an economic one. The solution is to be found in limiting government, not the banks.”
- Some useful information on Dodd-Frank