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America's Great Economic MiracleHomefriendly link Canada Goose Jackets Sale Adidas NMD For Sale Cheap UGG Classic 5815 Tall Boots Nike Superfly VI FG Cheap CL High Heels Sale Shop Air Max Sneakers Beats Solo 3 Headphones Sale Wholesale Sportswear Fashion-Nike Baskets Nike Air Max DLX LeBron James JerseyA Time ForChoosing - Ronald ReaganBenjamin Franklin QuotesCapitalism and EqualityCarbon Dioxide irrelevant in climate debate says MIT ScientistThe Cause of Rising Health Care CostsCommon Sense by Thomas PaineDefinition of CapitalismEconomist Oppose Stimulus PlanEnergy IndependenceEPA May Have Suppressed Report Skeptical Of Global WarmingF.A. Hayek Bio by Peter J. BoettkeFree To Choose by Milton FriedmanGlobal Cooling - Newsweek April 28, 1975I Believe - John D. Rockefeller. Jr.I, Pencil My Family TreeJames Madison QuotesJohn Galt's Speech-Mini VersionLet Them Go Their Way - Ronald ReaganThe Modern Day Little Red HenMilton Friedman VideosOpen letter to our nation's leadershipPilgrims and CommunismPlanned Chaos by Ludwig von MisesPolitical Spectrum by Nelson HultbergRonald Reagan Speaks Out Against Socialized MedicineSalvation Is Not Free-BoulwareSoak the Rich, Lose the RichSocialism and Democracy by Woodrow WilsonSocialism vs Free EnterpriseSummary of Saul Alinsky༯font>嬥s for Radicals?/font>Student Letter to Ronald ReaganTen CannotsThe Tea Party Spirit by Charles R. KesslerTom Smith & His Incredible Bread MachineThomas Jefferson QuotesWhy Socialism Failed By Mark J. PerryWe need health care cost reform that is so clear, that no honest man can misunderstand it, and no dishonest one, successfully misrepresent it.America's GreatEconomicMiracleThe story of the United States is the story of an economic miracle and a political miracle that was made possible by the translation into practice of two sets of ideas?both, by a curious coincidence, formulated in documents published in the same year, 1776.One set of ideas was embodied in The Wealth of Nations, the masterpiece that established the Scotsman Adam Smith as the father of modern economics.The second set of ideas was embodied in the Declaration of Independence, drafted by Thomas Jefferson to express the general sense of his fellow countrymen.Economic freedom is an essential requisite for political freedom. By enabling people to cooperate with one another without coercion or central direction, it reduces the area over which political power is exercised. In addition, by dispersing power, the free market provides an offset to whatever concentration of political power may arise. The combination of economic and political power in the same hands is a sure recipe for tyranny.Smith and Jefferson alike had seen concentrated government power as a great danger to the ordinary man; they saw the protection of the citizen against the tyranny of government as the perpetual need. That was the aim of the Virginia Declaration of Rights (1776) and the United States Bill of Rights (1791); the purpose of the
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