Economic liberty is the freedom to make economic decisions free of government obstacles or influence.
As history has shown, society and its people thrive whenever the government stays out of their business. We are mobilizing Texans to tell the politicians in Austin that free-market solutions and staying out of our economy are what’s best for the good people of Texas. The government has no right to interfere in private businesses, and we are fighting for the economic liberty of small businesses in the Lone Star State.
Fewer Government Regulations and Free Market Competition
Fewer government regulations ensure maximum economic dynamism, by removing barriers to decision making, barriers to competition, barriers to creativity, and barriers to entrepreneurial. Deregulation can help dynamic, entrepreneurial, creative businesses, however, because some large incumbent businesses use regulations to protect themselves from competition, deregulation actually can have a marginal negative effect on the biggest businesses.
Free market competition is letting the market determine winners and losers without the influence of the government. That means the government sets a level playing field and lets the chips fall where they may. There are two major roles of competition in a free market economy. Competition protects consumers from high prices and poor quality, and competition incentives innovation and experimentation, as companies try to get a leg up on their competitors.
Frequently Asked Questions
How does economic freedom benefit Texas?
Economic freedom results in economic dynamism, freedom to experiment, try new business models, innovate new products and services.
What is the goal of economic freedom?
Two: Freedom is desirable in its own right. It doesn’t require a goal or a utilitarian justification. Second, economic freedom creates more choice, opportunity, and self-determination.
How does economic freedom in Texas compare with other states in America?
Most rankings put Texas near the top but not at the top. So we’re doing well, but we are not where most Texans think we are. Most Texans think we are the most economically free state in the Union, which isn’t the case. There’s lots more we could be doing to create more economic liberty in Texas.
Why would someone oppose economic liberty?
In the name of consumer protection or labor protection. Most regulations and restrictions on economic liberty were justified to protect consumers or workers from evil, greedy businesses.
How do business regulations in Texas compare with other states?
Better than most but not as good as possible. There are still far too many protections for businesses that have the effect of insulating them from competition or protecting them from upstart competitors.
Are free markets correlated with innovation?
There is a very close correlation between free markets and property rights with innovation. You have to have both, but you aren’t going to get much innovation without competition. Just look at the old monopoly phone system. Not much innovation there.