Sunday, November 9, 2008


The Oklahoman ran my latest LTE today - guess I must have been under the word limit this time!
Protecing the economy

Michael McAlvain (Your Views, Nov. 5) asks, "Why are unelected officials setting monetary policy for our country?” They shouldn’t have that power, nor should elected officials. There is no free market in this country and there never has been, contrary to the assertions of those who point at people like Alan Greenspan. But Greenspan never practiced what he preached in those articles he wrote decades ago about the virtue of capitalism. Proof of that is the fact he accepted the post of chairman of the Federal Reserve in the first place.

America’s economy isn’t created by the government. It’s created by everyone who produces something of value and offers it for the public to buy. The more freedom they have, the healthier our economy is and the American people know that.

The best way for our government to protect the economy is to protect the rights of all individuals, including those individuals who create America’s economy. When government is restricted to the role of protecting the rights of individuals to their own lives, liberty, property and the pursuit of happiness, then and only then will we have a true free market.

If the process of reaching that goal requires closing the Federal Reserve and allowing banks to fend for themselves, so be it.

Rob Abiera, Oklahoma City

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