The United States economy is suffering one of its worst down turns in modern history and the entire globe is feeling the impact. The capital markets, job markets and consumer markets continue to decline and much of the result is due to overall lack of confidence in the current leadership of the United States and other developed countries. Each time there is a difficult decision to be made the regulators and legislatures continue to fail and by failing I look purely to the aforementioned markets as the ultimate report card. However, there are little consequences for failure which puts the entire global economy at risk. For many years the private sector and the individual truly understood the consequences of failure and the triumphs of success which created the highest level of accountability. This is no longer the case in the United States or around the globe and as a human race we are less accountable than we have ever been. This is a major problem that must be addressed.
We all cry for freedom but few really want true freedom because freedom ultimately results in the highest level of accountability. Ayn Rand was a major advocate to Capitalism and freedom but I would almost guarantee that the current watered down version of Capitalism in the last decade would bring her great discomfort. It was in one of Ayn Rand’s interviews that she clearly stated that there should be separation of economy and state just as there is separation of church and state. To this point I wholeheartedly agree and now is the time to embrace such a philosophy. This is crucial to regaining accountability and our alignment with the natural world.
In my spare time I am an avid outdoorsman and enjoy climbing major peaks around the world. The aspect I enjoy most about being in the mountains is the freedom! By freedom I mean the adventure and ultimate accountability that come with self-survival. Once I step foot in the mountains I know that I have no one else to take care of me and my decisions reflect greatly on the results I have in the mountains. To me this is the true spirit of mankind but our modern society no longer reflects such a mindset. We are constantly warned, cautioned and regulated wherever we turn and we are told that is for our own protection. This type of over stepping degree of protectionism is exactly what has landed our economy in the current situation. Our markets are begging for freedom and the best way to do that is separation of economy and state. I know that some are cringing at such a thought but think about the difference in how the individual and institution would react if there were no more guarantees, bail outs or unnecessary regulation. The individual and institution would act in the same manner a mountaineer would in the mountains which is with great diligence, preparation and thought. Would there be injustices and major breakdowns? Of course, but this would be no different than the natural world, there were no safety nets for those who suffered in the Japan earthquake recently.
The modern world has brought great new advancements for a better lifestyle but also at the cost of our connection with the natural world. The world we live in is completely out of touch with the natural world which is affecting our true sense of freedom and accountability. In order to repair the damages the modern world needs to look at the principles of the natural world and align our complex markets with the same mentality. It’s time to take back our freedom and get out from under the protectionism mentality that is running rampant in the world. The individual man and woman are best suited to make individual judgments on a daily basis and the more that is suppressed the more we lose ultimate accountability.