The sociopolitical heritage from Spain and the post colonial experience of Latin America has engendered in the Hispanic-American population an understanding of the role of government significantly different from the principles of limited government and imprescriptible rights embraced by the Founding Fathers. Thus classical liberalism, or libertarianism in the contemporary American coinage, does not come naturally to Hispanics.
In a recent American National Elections Study, in answer to the question: “Which of these two statements comes closer to your opinion, (1) The less government the better, or (2) there are more things the government should be doing;” 47.4 percent of the white non-Hispanic population responded “the less government the better.” In contrast, only 17.9 percent of Hispanics responded similarly.
In a question regarding preferences for free market vs. government solutions, 35.8 percent of white non-Hispanics opined that the free market can handle economic problems whereas 83.3 percent of Hispanics expressed that a strong government involvement is required. The political philosophies of classical liberalism that limit the role of government and place the individual in center stage are not nearly as ingrained in Hispanic heritage as they are in the American sociopolitical discourse. In some measure, this undermines effective pluralistic participation in the civil institutions of free societies.
This is a real problem. And it’s made worse by our terrible school system.
Has Al Gore’s life been completely in vain? Actually, perhaps we should thank him for his hyperbolic support of his cause — it helped us to kill it off.
Let’s say that you have the ability to print your currency using your computer printer, and every merchant accepted your printouts as a valid exchange for goods and services. You need to pick up your dry cleaning? You printout a $20 bill and your cleaners hand over your garments without question. Same would be true for your mortgage, groceries, car note, etc. Your creditors even accept your printouts as payment on your debts.
Given this, how can you ever be broke? Answer, you cannot be broke. The U.S. government is not in debt simply because it can create currency to pay off the debt, and our creditors gladly accept our currency as payment on our debts. You see, the world needs our dollars because the world needs oil, and in order to buy oil, you need dollars, which means that the world needs to stockpile dollars, and that means that the U.S. can print all of the money that it wants without incurring massive hikes in interest rates to attract lenders.
Other than electricity, they aren’t used to measure inflation. Which is little consolation to people on a fixed income, who still have to purchase them.
