The natural effort of every individual to better his own condition is so powerful that it is alone, and without any assistance, not only capable of carrying on the society to wealth and prosperity, but of surmounting a hundred impertinent obstructions with which the folly of human laws too often encumbers its operations; though the effect of these obstructions is always more or less either to encroach upon its freedom, or to diminish its security.
There are a number of ways by which the federal government can meet its responsibilities to aid economic growth. We can and must improve American education and technical training. We can and must expand civilian research and technology. One of the great bottlenecks for this country’s economic growth in this decade will be the shortages of doctorates in mathematics, engineering, and physics — a serious shortage with a great demand and an undersupply of highly trained manpower. We can and must step up the development of our natural resources.
Continue reading “The path to prosperity”
Statism survives by looting; a free country survives by production.
I had rather be shut up in a very modest cottage with my books, my family and a few old friends, dining on simple bacon, and letting the world roll on as it liked, than to occupy the most splendid post, which any human power can give.
Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice: All the rest being brought about by the natural course of things.
Some years ago, the federal government declared war on poverty, and poverty won.