Richard M. Ebeling writes in The Orange County Register that interventionism, not capitalism, is to blame for economic problems.
- Polling shows that large portions of the population do not have a positive view of capitalism and blame the system for economic hardships.
- Interventionism and onerous regulations hurt the efficiency of open, competitive markets which in turn hurts the economy.
- In energy, for instance, outdated permitting requirements slow down the deployment of innovative technologies which hurts the grid, environment, and economy.
- Meanwhile, subsidies for mature technologies distort the market, increase costs for consumers, and stifle innovation.
“With all these government intrusions into the market come special favors and privileges, anti-competitive practices, protections, and subsidies that benefit some at the expense of others due to the interaction of government officials and politicians on the one hand and those in the private sector wanting to escape from competition through interventionist ‘shelters’ that guarantee them ‘safe spaces’ from the normal competitive forces of a real free enterprise system.”
Read the full article here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
