Many things that are true in economics are not believed, instead being replaced by false beliefs. Numerous laws imposed upon us politically reflect erroneous thinking, the result being that we are forced to be poorer than we otherwise might be. Why? It’s because businesses run by businessmen are restrained from making money, and we benefit when they make money.
Yes, we do. If you fail to understand that, then you are denying an economic truth. You see, when a businessman succeeds at a profitable business, it’s only because the business has produced a product (good or service) that people wanted and bought. It’s only because the businessman was able to create jobs and pay people to help produce the product. Without that business, you and I would be left to fend for ourselves and make our own products. If we did find them elsewhere, that would likely be from some other business that had likewise created jobs, met a payroll and paid wages and salaries.
Without businesses, we are much, much poorer because we can’t produce as much when we are left each to ourselves. A businessman organizes us in such a way that everyone is better off: Those he’s paying, himself, the people who buy his products, and the people whose products he buys in order to produce his own goods. Even government is better off because there is more income for it to tax.
Businesses should be allowed to make money because we’re better off for it, and I mean at least everyone who deals with the businessman on a free basis.
The untruth or false idea believed and propagated by socialists is that businesses screw everyone in sight. They are accused of exploiting labor and consumers. This is the senseless idea that Karl Marx thought up, and today’s socialists still believe it. Even some successful businessmen believe it! Based upon this false idea, socialists recommend all sorts of government controls, laws and regulations over business. You need only read the published recommendations of one politician after another to see that they believe the idea that businesses screw people. This is also the idea pushed by very many journalists, talking heads, media figures, professors, teachers, clergy, and others.
Nonetheless, no matter how many people believe this idea, it’s still false. Without the business, you and I could not make anything but the rudest clothing and shoes, the most primitive dwellings and grow the crudest kinds of foods. We’d be reduced in many cases to foraging, hunting and starving unless we traveled to new hunting grounds or stole from our neighbors.
The businessman literally creates the wages and salaries, the better products, the improving products and the employment at more productive jobs, which ends up raising pay. The businessmen create the supply of goods that can be sold for money that ends up paying the wages and salaries so that we can buy the much better and less costly goods and services.
Businesses can’t exploit us because they compete to bring us better goods at lower prices. We are not ever forced to deal with a business, not unless government makes us, which they sometimes do out of a false socialist idea. Businesses do not exploit anyone who bargains freely or exchanges freely with them.
Socialists pretend to be doing something moral by suppressing business exploitation. But since such exploitation is a fiction, socialists aren’t standing on high moral ground at all. There is the exceptional case when a business is a protection racket and coercing people, but then we need the services of police not socialists. In fact, by undermining the freedom to conduct a profitable business, which benefits all, socialists are standing on quicksand morally, and their ideas should rightly sink beneath the surface and die out. Business has the high moral ground.
The businesses that deal with medicine, health, treatments, hospitals, clinics, doctors, nurses, insurance, billing, diagnosis, etc. would all thrive and provide us with the best services and goods that money can buy if every business in this sector were set free and deregulated. We do not benefit by controlling this sector directly or indirectly through Medicare, Medicaid, Medicare for All, Single Payer or any other system that politicians may devise. Whatever controls and regulations have been put in hurt us and everyone in the medical businesses. The government should get out of the medical or health sector altogether. The same can be said of other sectors that government now meddles with. We can only be better off by letting businesses be free to make money.12:35 pm on July 15, 2019 Email Michael S. Rozeff