Call to arms

As Thomas Paine wrote, "These are times that try a man's soul." Since 9/11, we have been assaulted on the rights front by a government that is determined to use the excuse of terrorism to expand its gathering of information about Americans. And now that the Bush administration is on the verge of leaving office, we have a new and greater threat. The sub-prime loan bubble has transformed into a credit crisis and stock market crash. But the government intervention, started by the Bush administration and to be continued by the Obama administration, is a cure that is worse than the disease.

Government can not fix all problems. There are many people to blame for this problems we face. We should look at our own actions and try to adjust our lifestyle to the new reality. The great danger we face is that government, in responding to the many calls for economic security and punishment of someone, will impose rules and guarantees that destroy the incentives and risks for business and financial innovation.

We know where the Democrats stand on regulation and market intervention. The Republicans, having been complicit in the current crisis, may retreat into populism and know-nothing. It is important then, that we of a libertarian bent speak loudly to defend free markets and small government. We can not remain as amateurs, throwing stones outside the debate sites, but must capture the high ground of the debate in order the defend our country from those that would trade economic freedom for supposed government safety.

As the Ron Paul run for the Republican nomination and the Obama win of the Democratic nomination shows, the internet gives new tools to spread ideas and organize politically. We must organize ourselves to oppose the coming onslaught of government intervention in markets. Some few may be worth implementing, but the vast majority will be not well thought out, ineffective, or counter productive.