SharksWithLasers -- Seth Cooper

A CUTTING-EDGE BLOG FOR THE WORLD OF THE 21st CENTURY, Currently operated by Seth L. Cooper, a 27 year-old attorney in Seattle (sethlcooper at comcast dot net)

Tuesday, August 17, 2004

GILDER'S TRIBUTE TO REAGAN AND FREE ENTERPRISE. This month's issue of Imprimis features an adaption of a recent speech given by George Gilder to a Hillsdale College National Leadership Seminar, held in downtown Seattle this past May. I was fortunate enough to be in the audience to hear the original speech, delivered as the keynote address during dinner. Although I recall Gilder's talk being even more interesting in person (in that he placed a heavy emphasis upon the Telecosm and the information age), the printed version nonetheless does an excellent job at showing the tremendous benefits that Ronald Reagan's economic policies helped to inspire. American entrepreneurship flourished, creating wealth, jobs and a better standard of living for all.

The complaints I used to make about supply-side economics' proponents as greedly people only seeking to benefit the rich to make them more rich are looking more silly all the time. Says Gilder: "As Reagan understood, high tax rates do not stop someone from being rich: Those who are already rich can move their money to protected havens. High tax rates stop poor people from getting rich. They stop entrepreneurs from supplying new goods and services that generate more wealth and jobs and value and tax revenue."

America's increase in GDP between 1980 and 2003, in comparison to the global total, is nothing short of staggering. As Gilder noted, "the Reagan program led to a shift in global economic balance of power as dramatic as the victory in the Cold War--and vital to it."

(Green Lake--Seattle, WA)

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