The 2020 Election Is About Freedom, Not Equality

The 2020 presidential election is the most consequential since 1932. The New Deal fundamentally shifted power from the states, businesses and private citizens to a sprawling federal bureaucracy.

Much of the mainstream media characterizes the contest for the Democratic nomination as a choice between moderate Joe Biden who would tweak free markets and socialists like Bernie Sanders who would rip out capitalism and burn its roots with government takeovers of whole industries and breaking up big tech.

That is tougher for me to swallow than the notion that Donald Trump is an illegitimate president.

In a recent Wall Street Journal op-ed, Obama White House Chief of Staff Rahm Emanuel argues the problem with Sanders is not his goals but how quickly he wants to accomplish them.

Apparently, reformists can succeed in destroying free markets and our constitutional rights if they don’t nominate someone so transparently radical that he frightens moderate voters. Instead, gradually hypnotize the electorate with false promises and seize opportunities during crises, and incrementally compel it to embrace socialism rechristened as progressivism.

The Affordable Care Act was supposed to make health care less expensive. In fact, it excessively subsidies providers and creates a byzantine regulatory framework that reduced what beneficial competition was left in that sector. The monopolization of markets for hospital services, prescription drugs and physicians and government largess are rapidly making the system too unaffordable to sustain. Now House Speaker Nancy Pelosi wants absolute price controls, but Sanders wants to nationalize in health insurers and give us doctors’ offices as moribund and swift as the Post Service.

With the Green New Deal, Democrats would shut down oil companies and nationalize electric utilities and state-manage the entire automobile and transportation sectors.

To get any traction in the Democratic Party these days, politicians must adhere to several basic tenets.

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Peter Morici is an economist and professor at the Smith School of Business, University of Maryland, and widely published columnist. He is the five time winner of the MarketWatch best forecaster ...

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Gary Anderson 2 months ago Contributor's comment

Trump is a tariff socialist. The idea that Trump is for freedom rings hollow to me. Biden isn't the kind of guy who would shut down big oil. Obama and Trump were and are do nothing presidents. My parents thought FDR was a great man. The greatest generation looked up to him for trying to help the average American. You have a disturbing view of the world, Peter. Free trade is what we want, but what good is free trade if money does not filter down to labor?

Kurt Benson 2 months ago Member's comment

Will there even be an election with #Covid19 running rampant?