https://us7.campaign-archive.com/?e=a9fdc67db9&u=9d011a88d8fe324cae8c084c5&id=1d2351192c
At the Manhattan Contrarian family dinner table the other day, the subject of conversation turned to this question: Should we be optimistic about the future of the United States? Good and valid points were made on both sides of the issue. But the most important point weighed for the side of optimism. That point was that, of all the countries in the world, the United States is the place where the people — rather than the government — really run the country. Here, more than anyplace else, people can pursue their own initiatives and dreams without the government having the ability to obstruct and stymie private efforts, and force resources into pathways chosen by elite government functionaries.
Why does this matter? It’s not complicated. From the perspective of aggregate economic performance, the simple answer is that a trial-and-error process with hundreds of millions of participants will come up with much better and more numerous solutions to human problems than the small number of the very smartest people with government authority can ever come up with. From the perspective of the individual, the answer is that the only worthwhile life to lead is the life of freedom, where you make your own choices and take responsibility for your own success or failure.
As Exhibit A of how personal freedom and autonomy from the government leads to better economic performance, consider the fracking revolution. At the time of Barack Obama’s election to the presidency in 2008, U.S. crude oil production had been dropping for decades, and had reached the level of barely 5 million barrels per day. President Obama had drunk the climate Kool Aid, and he and his administration made it a priority to keep oil production as low as possible in order, they thought, to “save the planet.”. They blocked drilling on federal lands, ceased granting offshore oil leases, refused permits for pipelines, issued negative environmental reviews, and otherwise did everything in their power to obstruct and stymie any and all new oil production and/or transmission. Yet by the time Obama left office in January 2017, U.S. crude oil production had soared to around 9 million barrels per day. The fact is that a presidential administration, under existing law, simply did not have the power to stop private actors from carrying the fracking revolution forward. (U.S. crude oil production has since further increased under the more energy-friendly Trump administration to 12.2 million barrels per day as of June 2019.)