19Some Political Cures: Government Policy
IN THE LONG TERM, WE CANNOT CONSUME MORE THAN WE PRODUCE. Our standard of living is fundamentally driven by our ability to produce goods and services that improve our quality of life and the quality of life of those with whom we trade. The question is, How can government policy contribute to the kind of environment in which human productivity is maximized and in which individuals can pursue their personal happiness?
Obviously, this is a complex question, but there is also overwhelming evidence that a society based on the rule of law in which individual rights, including property rights, are protected and in which government interference in markets is extremely limited produces the highest standard of ...
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