Wednesday, February 14, 2007

Free Market Capitalism is Still the Best Path to Prosperity

Brian Wesbury wrote a great op-ed in the Wall Street Journal today.

Here's a snippet:

...Free-market capitalism is not perfect. But it remains the single most efficient and powerful system for creating wealth, reducing poverty and developing less wasteful ways of organizing output and consuming resources.

With the U.S. seemingly at a political turning point, the next few years are very important. At a similar juncture in 1929, and again in 1965, the U.S. moved toward bigger government. After World War II, and again in the early 1980s, Washington chose less intrusive government. The results speak for themselves. Good times or scary times: It's our choice.

Incidentally, our resident permabear Nouriel Roubini will square off in a one-on-one economic debate against Mr. Wesbury on tonight's Kudlow & Company.

These guys don't agree on much. Should be one heck of a debate...