The Road To Prosperity – Proven Ideas On How To Take Us In A Direction That Will Actually Get Us Where We Would Benefit
By: Doug Busselman, Executive Vice President
Given the economic condition we are in and understanding the direction that the ruling party in charge of our state and nation are taking us, I’m trying to review anything I can get my hands on to better understand the public policy options that might be worthy of changing the situation. My newly acquired book of this type is authored by former Pennsylvania Congressman Patrick Toomey entitled “The Road To Prosperity”.
The most notable attribute of the book is the way economic principles are presented as common-sense truths offered in an understandable and simple fashion. An example of this is Toomey’s opening observation about market principles and the advantages of voluntary participation in the free enterprise marketplace.
Instead of worrying about inappropriate actions carried out in a person’s self interest, Toomey describes his purchase of a morning $1.49 cup of coffee as showing the workable end results of individuals taking action in their self interest. To the extent that Toomey views the cup of coffee more valuable than his $1.49 and the coffee shop owner considering the $1.49 to be more valuable than his cup of coffee – the voluntary transaction successfully allows both to act in their self interest with each benefiting. This simple, market-oriented example demonstrates the reality which puts political manipulation into stark contrast because the parties involved know better their interest than anyone else can know.
The four fundamental principle foundations Toomey describes as fitting rightfully into government’s purview of responsibilities for beneficial prosperity:
Given the economic condition we are in and understanding the direction that the ruling party in charge of our state and nation are taking us, I’m trying to review anything I can get my hands on to better understand the public policy options that might be worthy of changing the situation. My newly acquired book of this type is authored by former Pennsylvania Congressman Patrick Toomey entitled “The Road To Prosperity”.
The most notable attribute of the book is the way economic principles are presented as common-sense truths offered in an understandable and simple fashion. An example of this is Toomey’s opening observation about market principles and the advantages of voluntary participation in the free enterprise marketplace.
Instead of worrying about inappropriate actions carried out in a person’s self interest, Toomey describes his purchase of a morning $1.49 cup of coffee as showing the workable end results of individuals taking action in their self interest. To the extent that Toomey views the cup of coffee more valuable than his $1.49 and the coffee shop owner considering the $1.49 to be more valuable than his cup of coffee – the voluntary transaction successfully allows both to act in their self interest with each benefiting. This simple, market-oriented example demonstrates the reality which puts political manipulation into stark contrast because the parties involved know better their interest than anyone else can know.
The four fundamental principle foundations Toomey describes as fitting rightfully into government’s purview of responsibilities for beneficial prosperity:
- Protection of Private Property Rights
- A Relatively Unfettered Free Market
- Low Taxation And Spending
- Sound Monetary Policies Resulting In Stable Currency Values
Posted by Doug Busselman at 2/15/2010 2:42 PM 
Categories: Economy
Tags: Central Planning Free Markets Big Government
Categories: Economy
Tags: Central Planning Free Markets Big Government
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