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Chapter 3: The Choice is Ours to Make

“The things once there, humankind
individually or collectively, can do with
them as they please. They can place them at
the disposal of whomever they please, and
on whatever terms. . . . Even what a person
has produced by his individual toil, unaided
by anyone, he cannot keep, unless by the
permission of society. . . . The distribution
of wealth, therefore, depends on the laws
and customs of society.”

Yes, we can choose to redistribute goods and
services, but will this redistribution lead to
inefficiencies? When does redistribution impede growth
and impair productivity? If the government interferes
with the price mechanism too much, price signals blur,
confusion sets in, and the economy shrinks. Because
things wear out, we have to grow just to take advantage
of new technology and to replace what we have lost.

Growth

If we do not grow, we end up with less and less
with each passing day as things deteriorate. That well-
running car you drive will eventually need repairs. If we
grow by 2 percent, but things deteriorate at a 3 percent
rate, we end up with less. Insufficient growth can lead
to an unequal gross distribution of wealth and civil
unrest as the poor receive less of a shrinking pie. Pro-
growth policies are the center of President Trump’s
economic agenda.
The world is experiencing lower birth rates, but
longer life expectancies than in earlier years. The longer

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