Rent-to-own may return

Deregulation in Wisconsin? That is pretty high up on the freedom scale. But that is what the Republicans in the state legislature are considering: exempting Rent-to-own from the Consumer Protection Act.

Deregulation is a libertarian concept. Libertarians assert that people should take responsibility for their own actions, including the purchase of goods and services. "Buyer beware" is a libertarian concept.

It sound good to have rules and regulations to protect consumers against fraudulent providers. But that is really the job of the free market. And it is why, in a free society, entrepreneurs must work their way up the economic ladder, starting with small transactions and building up to bigger deals. The market has to test that entrepreneur on a small scale. And if the entrepreneur shows he or she can do the job right and be trusted, then it is on the bigger things.

That is why, in the free market businesses live and die off their reputations.

It all gets back to responsibility. If people don't want to take responsibility for their services as well as their purchases, then they get what they are getting now: a highly regulated, poorly performing market place, in want of opportunity, business and jobs.

Let’s see if the Wisconsin legislature, executive and judicial branches can actually manage this step towards a freer market place. For this group, such an attempt is highly unusual.

Balancing the budget and limited government

A balanced budget is the most fundamental barrier to runaway government. A government that is limited to spending only what it taxes is severely limited in its expansion and intrusion into its citizens' lives.

Conversely, a government which is allowed to spend money without regard to any limitation, can be expected to become intrusive and oppressive.

If a group wants to limit the size, scope and particularly the growth of govevrnment, a good place to start is forcing it to balance its budget.

The economy is not driven by consumption

The economy is not driven by consumption. That is why Keyensian Economic theory does not work when applied to actual economic conditions. If consumption brought about economic growth, there would never be an abatement of economic expansion as the human desire to consume is never ending.