Adam Smith as in the author of the 'Wealth of Nations' which He published in 1776.
Smith was a great proponent of Capitalism and had many things to say about it including:
That by giving everyone freedom to produce and exchange goods as they pleased (free trade) and opening the markets up to domestic and foreign competition, people’s natural self-interest would promote greater prosperity than with stringent government regulations.
As I have written many times of late, Capitalism as Smith knew it in His Day is under attack.
Governments of all types and kind have taken over and in so doing have grown like Topsy.
Let's take the current housing shortage as a prime example here. Homes are selling on average for well over $800,000 if you can even get one let alone afford the steep cost. These are not Mansions by any stretch of the imagination - plain houses. One such home sold for over $800,000 above the asking price of well over a million dollars and looked on t.v. like a dump.
Our Federal Government came out with a Budget yesterday which contained some provisions to address lack of housing which will only exacerbate the problem. A bit of money to the Municipalities which will do spit and a little to first time home buyers which will only serve to jack the cost of housing up even more.
What is needed is for Governments at all levels to get out of the way...cut out the red tape ...let the builders build and increase the housing supply dramatically which in turn will bring down prices and make homes available to all who wish them at a reasonable cost.
I remember when I was a kid and t.v.s first came out - they were small - 17" and they were very pricy. Only the rich could afford them. However governments were small in those days so mass production occurred much like Henry Ford and His Model T...so product cost fell to reasonable levels and product quality vastly improved.
Same would happen today with Housing if Government would just keep to minding its knitting.
Another big budget initiative was in Health Care ...again - like Housing a Provincial Responsibility and should not be included in a Federal Budget. In today's National Post one of my favourite writers Philip Cross points out in detail the many contradictions yesterday's budget contains. I would urge you all to read it...it is excellent.
In regard to Health he rightly points out that the Feds should steer clear of Health not only because our Constitution opposes it but because the initiatives the Feds are putting forward conflict with the objectives of the Provinces when it comes to healing Health Care.
The Feds want money spent on child care, dental care and pharmaceuticals. The Provinces again the ones responsible for Health Care have identified as their priorities - Long Term Care...it is in shambles...lack of Doctors...lack of Hospital Beds ...lack of PPE and so on and so on. The bottom line here is that since Health Care is on a respirator already, the supposed help from the Feds will only make it worse. Everything in Health Care cannot be a priority.
Anyway Cross deals with these subjects and many more..please read it if you get a chance.
And next time a Leftist Progressive disses Capitalism be prepared to set them straight if for no other reason than the fact that Capitalism is the only ISM that actually works.
As I See It...
'K.D. Galagher'
