Commonsensenomics (Introduction)

When I began the blog commonsensenomics.blogspot.com, my goal was to present a common sense approach to economics. In a little over 200 years, the United States has grown from a fledgling nation to an economic power. The greatest contributor to this economic growth has been the promotion of free markets in our economy with little governmental interference. In addition, the constitution guarantees citizens of the U.S. the right to own private property.

Free markets allow people be innovative and creative, seeking new ways to meet the demands of consumers. The constitution limits government’s ability to interfere in commerce and limits its actions to that of a referee guaranteeing everyone the right to engage in commerce as they see fit. The right to own and keep private property means that once an individual prospers from their labors, they can keep and enjoy the fruits of their labors.

As with any man made system, the capitalistic system of the U.S. is not perfect and as had its share of corruption, but this is true of any economic system run by people. It is not the system that is corrupt but the people in the system. However, the capitalist system, if allowed to operate as it should, is equipped to correct corruption because customers of corrupt corporations can refuse to purchase their goods. In addition, the stockholders of these corporations can replace corrupt leaders.

Commonsensenomics is comprised of the following 10 principles.

1) Markets work best when they are free
2) Less tax = more economic activity
3) Regulation driving with the brakes on
4) Why not use our own resources?
5) Environmentalism the economies number one threat
6) Godly principles the plan that always works.
7) Profit is good
8) Education what is lacking most.
9) Keep the government out of our healthcare
10) Capital the oil that keeps the machinery running.

In the next few weeks we will be exploring these principles in greater detail. The continued success of the economy of both the U.S. and other countries of the world hinges on adherence to these principles. I would encourage each of you to invite your friends, family, and business associates to follow these weekly teachings as well as the other teachings on leadership and Biblical financial principles. The Bible says in Hosea 4:6 that “My people are destroyed for a lack of knowledge”. My goal is to disseminate knowledge to my readers so they can avoid financial destruction.