I am a proud Free-market Capitalist. I fiercely believe this to be the fairest and most beneficial type of economy to have ever existed.

The wealth of our nation has come from the productivity of business, industry, and our work force. Business Owners and Employees have worked together to create wealth and prosperity.

The economy does not happen in a vacuum. Economies happen because people produce things that others want. Resources may have a finite amount, but innovation is limited only by our imagination.

I know that when a business is healthy, it can pay its employees well. When employees put in an honest day’s work, the business stays healthy. It is a symbiotic relationship.

The purpose of a business is to make money. Further, they need to make enough of a profit that the owner can pay for their own living expenses, while also having a quality of life. Ambitious people do not strive to merely survive, we all have a desire to succeed.  Business owners need a model to find success.

Businesses need three things to prosper: Investors, Customers, and Employees.

–          The investors provide the capital for the owner to build factories, purchase materials, and hire employees.

–          A business needs satisfied customers to sell its goods or services to. Customers need to be happy with the product so they will return.

–          Skilled and motivated employees make customers happy. Pleased customers pay top dollar for quality products; those dollars pay the high wages for the skilled employees.

Some people look at the purpose of business as only to employ people. No, their employees are a byproduct of a successful business. If the business does not focus first on making a profit, then it will suffer losses, and have to lay off employees, not be able to repay its investors, and be unable to purchase more material to manufacture more of their product. This results in the slowing down of the economic cycle.

Managing a business successfully really is a skill that takes hard work, attention to detail and strong determination. Businesses suffer many challenges including many from each of the parties I’ve discussed. Investors may want a larger return on their money, making it difficult for the owner to purchase more material or pay competitive wages to employees. Some customers may demand cheaper prices, making it hard for businesses to cover operating cost and wages. Also, employees may demand higher wages, making it difficult to repay investors and/or keep prices low for customers.

Business owners need to find that equilibrium between all three to keep each of them not only satisfied, but also happy and enthused.

I believe that the government can best serve the economic interest of this country by mainly staying out of the way of business, much more of Laissez-faire attitude. I believe in the common goodness of man-kind, but that man is also corruptible. Because of this, he may cause harm to others, so therefore, a certain amount of laws and regulation is necessary to protect people from the evil intent of others.