This speech was presented at the Jonathan Club in Los Angeles in December of 2011.
He posits that economies need only four things from government to grow and prosper:
- Light taxation
- Little to no regulation
- The ability to trade freely without regard to country borders
- A stable unit of account
With these requirements in mind, he reviews the Great Depression and WWII, the 2008 Financial Crisis, and then comments about the Present and the Future.
He concludes with a quote from John Stuart Mill: “The only insecurity which is altogether paralyzing to the active energies of producers, is that arising from the government, or from persons vested with its authority. Against all other depredators there is a hope of defending oneself.”
I think you will enjoy reading this.