The Foundation of a Party: The Libertarian Party Economics

Yesterday in the Libertarian Party Platform I covered the Personal Freedom Planks. Let’s see what their idea of Economic Liberty is.

They set the role of government as to protect property rights, adjudicate disputes (civil court) and legal framework which voluntary trade is protected (contract law). They do not believe in any form of socialism or controls on trade by the government. Like the restriction on selling health insurance across state lines or the jihad on payday lenders that Arkansas’s Attorney General McDaniels led.

Property rights to them are equal to human rights, because your body and the fruits of your efforts are your property. The only limitation is if you infringe on another’s rights. Like lighting up a cigarette in my house after seeing the no smoking sign. The list on want the government can do as far as running your business is lengthy. You, the individual, set wages, prices, rents, profits, production, interest rates for your business and any law interfering with advertising will be repealed. You also have the right to refuse business to anyone as well. And a fat no to eminent domain or theft, they favor making restitution to the owners by the thief.

The environment, private landowners and conservation groups handle it since they’re accountable and the government never is. Environmental advocates and social pressure are the most effective means of changing public behavior.

Energy? No subsidies, tax favors or anything. Government has no hand in it.

Government finance and spending? Anything dealing with the IRS, 16th Amendment, and programs not laid out in the Constitution they want repealed. Debt is immoral and the only way they want to balance the budget is cut spending. What a novel idea. 

Oh and to sum up Financial markets, bye-bye Federal Reserve. Corporations will receive no more subsidies and the same goes to any other special interest. True equal opportunity. Anything the free market can provide, the government will stop providing. Industries live and die based on their merits.

Labor Markets. Repeals of laws interfering with people finding work, forced retirement, and support the right of people to associate or not with labor unions and the employer has the right to recognize or not, a union. No interference from the government.

Education. Parents’ responsibility, where, when and how. And parents have total control of the funds for the education. This makes complete sense to me, especially since my very foundation is personal responsibility. If you can’t educate your kids, then don’t have them.

Health Care, the individual has the final say on everything. Including ‘end-of-life decisions’. That to me, is a nice way to say Assisted Suicide and I’ve covered that before here. Buy health insurance like car insurance. Across state lines.

Retirement and Income Security. Individual responsibility. They want to phase out Social Security in favor of a voluntary private system. I’ve written as much in Growls Of A Wolf. They believe in no welfare and that people will step up if they see the government won’t do it.

Tomorrow is securing liberty. And my final thoughts on the Libertarian Party most likely, unless the post gets to long. I don’t like 1,000+ word posts.

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