Today on Uncommon Knowledge, author George Gilder discusses the fallacy behind the left’s attack on tax cuts and smaller government.
The secret of capitalist success is that the same people who prove by previous entrepreneurial experiments that they are capable of creating wealth get to control the next phase of investment. The socialist wants to benefit from the entrepreneurs’ success and then take the capital away and deploy it for some government purpose. That thwarts the information process, which is critical to the success of any economy. It is dependent on creativity, which always comes as a surprise to us.”