Republished from my piece published today on the Young Americans for Liberty blog.
The frustration of the “Occupy Wall Street” (OWS) movement in their call to end corporate corruption and societal inequality is valid. Sadly, several solutions to the problem that have been presented are disastrous because they ask the wrong question. Instead of asking if big businesses and the Federal Reserve have screwed the American people (the answer to which is undoubtably yes, as Glen Greenwald of Salon outlines), they should probe deeper.
A better question to ask would be: How did big businesses, the Federal Reserve, and the federal government cause the financial crisis, and how can it be kept from happening again? Some in the OWS movement will place the blame on capitalism and free enterprise. Yet these activists will miss the mark.
The culprit of this crisis is big government regulations, which no longer act as an impartial referee and permit some big businesses to succeed while others fail. The culprit is a distorted tax code, which enables certain companies to evade taxes. The culprit is departments and agencies that are not transparent and accountable to the people.
These big government policies caused the financial crisis. Tim Carney, the senior political columnist of the Washington Examiner, has written extensively on the mechanisms that big government employs to assist its favored corporations. Solving the mess requires a government restrained and unable to create loopholes. Only then can the government respect the individual, the world’s smallest minority, to ensure equal treatment under the law.
Word from the Wise 