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Libertarian Economic Stimulus Strategies     ____________________________________________________________
Yes, We Need to Do Something!
We've stated that the current approach of expanding government involvement in the economy is generally diametrically opposite to what libertarians would do. Libertarians have good reason for believing that in general, as Ronald Reagan used to say, "(One) governs best who governs least."
Yet there is such a strong clamour for government intervention, we also wanted to weigh in on what would be the least damaging, most effective government intervention, since it is obvious were going to be stuck with something-- a lot of something, no doubt.
How's this for a Stimulus Check?
In the least government department, we
would stimulate the economy by rebating taxes. Pick the number. If you
want a one Trillion dollar stimulus, rebate the last Trillion
collected. If you want more or less, pick the number and print the
checks. Certainly, if the government is going to spend real money, no
one would put it to better use, and to the kind of use that would act
like CPR to the flatlining economy than putting the money back in the
pockets of businesses and individuals who have been compelled to pay
the government over the years. More on this option.
It's the Infrastructure, Stupid!
The one thing the government could do that wouldn't screw things up long term would be to invest the total stimulus package in rebuilding and upgrading the infrastructure. It has been said that to do a total and extreme makeover for the infrastructure would cost 2.5 Trillion (with a T). Is there anyone who does not doubt that President Obama and Congress will end up spending at least that much before they're finished on a combination and series of stimulus packages and bailouts? Perhaps they've already spent that much. The problem with the current approach is that no one knows if it will be "enough" or if it will work, or how it will work, or where most of the money already spent has gone, other than into the ether.
So, President Obama, take a memo! If you're going to spend that kind of money, why not get back to your initial focus on the infrastructure and put it all there.
Definition: When we say infrastructure, this is what we mean: the muscular-skeletal-nervous system of any community or state on which energy is transmitted, communications flow, goods and services are delivered, and people travel and interact. In other words the...
- Power grid
- Highway system, including bridges, tunnels, expressways, streets, roads, & connectors
- Communications systems including broadband, wireless and wired, inclusive and exhaustive (in other words anything that facilitates or executes communications and data transmission functions).
- Water and sewer systems, including gray water recycling, desalination, etc.
- National and local defense applications of the above.
We have identified the infrastructure becuase it is critically in need of rebulding, not only due to decay and wear, but due to a need for ugrading and updating. Our competitiveness and economic health as well as our safety depend on a solid, state of the art infrastructure. While it isn't our plan A, here's why libertarians can support government funding of an extreme infrastructure makeover!
- Libertarians believe free markets foster liberty on all fronts and in all categories. The liberty of the individual and the business to buy, create, and sell goods and services is essential to achieve and maintain security, strength, and prosperity.
- Free markets depend on entrepreneurialism, constant innovation and reinvention.
- In order for private enterprise and commerce to succeed, infrastructure is essential. Having a new infrastructure will make
American business more competitive and efficient. It will make it
easier for entrepreneurs to start new businsses, and easier for
businesses to form and grow in more remote locations.
- As we say in our section on privatization, we believe the best way to build and manage infrastructure is in the private sector, but an all new twenty-first century infrastructure would be easy for the government to sell off at a profit once it is complete. But, being realistic, whether or not it is privatized, a new infrastructure will make it much easier for our free markets to work and free enterprise to thrive.
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