Report by Howard Myers
Yaron starts by asking if we have recovered from the election. He pointed out we have been losing for a long time. One hundred years of nonstop government growth, regardless of political party, even with Reagan, the government grew. With Reagan there was some success but it was short lived.
Why are we loosing? It would be understandable if we were wrong, but we are not. Some say capitalism doesn’t work. They say it does not provide wealth but they are delusional.
Where the free market exists we have wealth creation. Which systems work and which do not? We have tried communism and millions died. We tried totalitarianism; that did not work. For the first 150 years we had freedom and it was a huge success; capitalism happened. We had millions of immigrants that came and worked, contributed and succeeded.
Hong Kong was a fishing village, on a rock 50 years ago. Now they outshine New York. What did they have? Freedom. The same thing as the US. The old ‘give me your tired, your hungry, etc’. For the last 100 yrs we have turned our backs on what works. People don’t vote, their pocket books like we are told, or we would be living in a laissez-faire paradise.
When I went to the mall to buy an iPhone was it to stimulate the economy? No, it was to improve my life. If we sacrifice it is giving something with no return, otherwise it is an exchange for value. We are being taught when young that we should do the right thing for our fellow man. But free market is about self interest. We are taught it is about selflessness, not self interest. But altruism is incompatible with free market capitalism.
How did bill gates get rich? By trading something we wanted for money. Did we get more value than we paid? He made fifty billion; how much did we make? We made much more than that in value. But Bill didn’t become a good guy until he gave away a bunch of money. But he won’t become a saint unless he gives it all away. Successful people get no credit for making jobs and building stuff, only for community action. Bill Gates gets no credit for all the wonderful contributions to our economy, only community work.
My life’s purpose is not to serve others, it is to live a full life. What was the American revolution all about? Individual freedom. It was like your live belonged to someone else. But I have a right to my life; you can’t tell me how to live my life. The revolution was about individualism, rejection of collectivism. Life liberty and the pursuit of happiness is not someone else’s happiness. Yaron believes the Declaration of Independence is a more significant work than the Constitution, for what it says about the reason for the revolution.
Justice used to mean getting what you deserve; now it means equality. How did this happen? We need to educate people in the value of capitalism. Our job is to make money not create jobs. We have to fight for the Declaration of Independence and what it describes as ‘inalienable rights’. What are inalienable rights, what does it mean? It means no body can take them away from you, not by legislation, regulation or executive order. They are inalienable. But are there any inalienable rights today? Yaron says no. They have all been violated.
But when is the time to give up? When you lose free speech. Then you can no longer fight for what you believe in.
The Q&A session was very informative, lively, and lengthy.
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