Charles Koch: On Economic Freedom

"Let me just quickly define what I mean by Economic Freedom. I mean a system by which private property rights are fully respected under and impartial and beneficial rule of law. Where people are free to trade with whomever they choose for what they need and want. They have sound money, which gives them an effective medium of exchange -- and the second part is important -- and reduces boom/bust cycles. Finally that the government is kept small and limited to those activities that contribute to societal well being rather than undermine it.

The role of business is to contribute to societal well being, and if a business isn't doing that it shouldn't be bailed out, it shouldn't be subsidized; it should go out of business. It should go broke.

Now, business does so by practicing what we call "Principled Entrepreneurship," which is maximizing long-term profitability by producing produces and services that make people's lives better while using less resources and always acting lawfully and with integrity. Now, I'm not proclaiming perfection in that regard . . . far from it. But this is and has been our goal to which we dedicate major resources."

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People who are unable to prosper under economic freedom and capitalism, inevitably would rather a system in which they do less while getting more.

Unfortunately, big government spending provides that forbidden luxury.