To Create Jobs, Government Should Get Out of the Way!

RonPaul2008dotcom | October 26, 2010

10/25/2010 - http://www.RonPaul.com

As the current economic downturn shows no signs of lifting, we hear quite a lot of rhetoric from current and potential office-holders about what government can and will do to create more jobs. This is especially disconcerting to those who understand that the best thing government can do for job creation is to simply get out of the way.

Jobs are properly created by businesses. Government-created jobs are either fueled by fiat money and manipulated market conditions or directly funded by taxes paid by businesses and individuals who then have less to hire people for real wealth creation. Government-created jobs destroy wealth and sap potential from the economy. The several stimulus bills passed by Congress have done much to expand government but not much to keep money in the hands of real job creators -- the entrepreneurs.

Keynesian economists don't see things this way. They see government spending as a stop gap measure that tides us over through rough economic patches. But is this really the case?

Far from it. The reality is instead of sustaining us until the economy can catch up, government spending perpetuates the problems the bureaucrats and the politicians created. Maintaining a high level of employment is one of the main objectives of the Federal Reserve, which is just one reason it is ill-conceived at its very core: it legitimizes economic intervention which is always destructive. When unemployment rises after the bust of a Fed-created bubble, you can be sure Congress will attempt to rescue the economy through various policies that will always prolong the agony and expand the downturn.

In the late 90's, it was thought that encouraging home ownership would have a stimulative effect that would ripple throughout the rest of the economy and create jobs. Various government policies favorable to home ownership were enacted and the Fed kept interest rates artificially low so everyone would be able to buy a home, whether or not they could really afford it. For awhile, it worked. The housing boom increased demand for realtors, mortgage lenders, and construction workers. However, as reality sank in, not only are we back to where we were when the bubble began, but we are actually worse off. For example, not only have we lost all of the one million extra construction jobs the bubble created, but we lost another one million on top of that! So not only did the artificial wealth evaporate, but real wealth has been destroyed as well.

--

Ron Paul is America's leading voice for limited, constitutional government, low taxes, free markets, a return to sound monetary policies, and a sensible foreign policy that puts America first.

For more information visit the following websites:

http://www.RonPaul.com
http://www.RonPaulNews.com
http://www.CampaignForLiberty.com
http://www.house.gov/paul
http://www.DailyPaul.com
http://www.RonPaulForums.com
http://www.RonPaul2012podcast.com

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Comment by Central Scrutinizer on October 27, 2010 at 1:49pm
Paul- YES......Ventura- NO
Sorry, he's just too imbecilic to be a vice pres, he's got good intentions, but he's not that bright.

Ohh wait.....i forgot who's there already....lol
Comment by fireguy on October 27, 2010 at 12:51pm
Paul/Ventura 2012
Comment by Anti Oligarch on October 27, 2010 at 12:44pm
Right on, Bryan I'm 100% with you.
Comment by bryan l on October 27, 2010 at 5:14am
government at this point is of no use. every job in government should be audited and replaced with more lean, productive, constitutional and most likely currently unemployed individuals.

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