As our masthead declares, the Minnesota Free Market Institute is dedicated to preservation of and education about free markets. We do so not because we have a partisan political ax to grind, but because, quite simply, history has proven free market capitalism, with all its flaws, is undeniably the most effective form of organization for providing the greatest good for the greatest number.
We are concerned that despite the evidence of history, our country and our state are turning away from free market capitalism toward the deceptive but seductive promises of a centrally managed and controlled economy. We agree with Dr. Lawrence McQuillan of the Pacific Research Institute when he writes, “The price of limiting economic freedom is real, but not always apparent or easily understood by citizens and voters, or especially by lawmakers….More than ever, it’s important to remind workers, taxpayers, voters, business leaders, and politicians of the importance of economic freedom to our nation’s growth and prosperity and the dangers and folly of continuing down the road to ever-larger government.”
“When states encourage greater economic freedom, one is not surprised to find higher personal incomes, less unemployment, faster economic growth and greater entrepreneurship and innovation,” said Pat Anderson, president of the Minnesota Free Market Institute – positions typically associated with the Republican Party. “But often overlooked is the positive effect of economic freedom reducing poverty and inequality, creating a cleaner environment and expanding democracy” – positions typically associated with the Democratic Party.
The Minnesota Free Market Institute urges policymakers to heed the lessons of history and employ the coercive power of government sparingly when creating public policy. We urge policy that doesn’t aim at specific outcomes, but rather furthers the ability of individuals to bring their talents and resources to bear on innovate solutions to today’s problems. We ask lawmakers to consider the constitutional authority – state and federal – of any action they take, before they take it.
The Minnesota Free Market Institute supports the effort of any policymaker of any political party who supports free market solutions for the “common good.” Public policy that protects and enhances individual freedom to pursue life, liberty and happiness is the best way to provide for the general welfare, and the only way to secure liberty and justice for all.