Liberty Maven

Many millions of people swept up in “Obama fever” this election were naively duped (mostly due to a lack of understanding of the Constitution and how the government operates) into believing that Barack “The One” Obama would be able to fix all the nation’s troubles.  Sheldon Richman of The Future of Freedom Foundation discusses Obama’s slogan “Yes We Can” in light of political reality:

Barack Obama will assume the presidency on a wave of hope among millions of Americans that he will deliver on promises that countless politicians have made before him. Rising above partisanship and committed to solving long-festering problems, Obama will inspire and unify the American people and, as a result, move the crusty Washington political apparatus to at long last serve the interests of all.

At least that’s the theory and the widely held expectation. The truth is that some political promises cannot be kept because they run up against the wall of reality, namely, the unmalleable laws of economics. The sooner Obama learns this, the easier it will be on everyone and the more good he will be capable of. Because of those laws, which are every bit as real as the laws of physics, government cannot directly do the things Obama wants to do: raise wages, create jobs, provide universal medical care, improve education, innovate on energy, and the rest. But indirectly he can help bring those things about. How? By freeing the economic process of all impediments and distortions, including taxes on production, regulations, subsidies, and guarantees to business. The free market, which consists of free individuals cooperating through consent and the division of labor, can deliver those things and more.

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