Monday, September 14, 2009

Believing in the "Magic of the Marketplace"

President Reagan’s visit to the NYSE in 1985 marked the first time a sitting president had visited the Exchange.
We who live in free market societies believe that growth, prosperity and, ultimately, human fulfillment are created from the bottom up, not the government down. Only when the human spirit is allowed to invent and create, only when individuals are given a personal stake in deciding economic policies and benefiting from their success – only then can societies remain alive, dynamic, prosperous, progressive and free.

Trust the people. This is the one irrefutable lesson of the entire post-war period, contradicting the notion that rigid government controls are essential to economic development. The societies that have achieved the most spectacular, broad-based progress are neither the most tightly controlled, nor the biggest in size, nor the wealthiest in natural resources. No, what unites them all is their willingness to believe in the magic of the marketplace.

~Ronald Reagan, quoted in the New York Stock Exchange's "A Tribute to President Ronald Reagan."

9 Comments:

At 9/14/2009 8:45 PM, Anonymous Anonymous said...

What a contrast to the current occupant of the White House.

 
At 9/15/2009 12:33 AM, Blogger happyjuggler0 said...

Am I the only one who played the game of "spot the secret service agents"?

I count six or seven. I'm guessing seven, because I find it hard to believe the SS would allow either the guy on the right or the guy in front of Reagan to actually be there if they were not agents.

The ones looking at Reagan or looking at monitors above are most definitely not agents.

 
At 9/15/2009 9:27 AM, Anonymous Anonymous said...

Happyjuggler0, what's your point? Every president, even Obama, has to be protected.

 
At 9/15/2009 9:36 AM, Blogger 1 said...

"What a contrast to the current occupant of the White House"...

Ahh yes, the adventures of the Manchurian Cretin could easily drive us all into third world status...

 
At 9/15/2009 10:59 AM, Blogger Bill said...

Ahhh... Back when we had a real President...

 
At 9/15/2009 1:54 PM, Blogger sethstorm said...

He had to thank the people in Wall Street who owned him.

 
At 9/15/2009 2:05 PM, Anonymous WestWright said...

Thanks for that refreshing moment with the great RR...certainly a standout President and hopfully we will have our new RR soon.

 
At 9/15/2009 4:09 PM, Blogger sethstorm said...


Thanks for that refreshing moment with the great RR...certainly a standout President and hopfully we will have our new RR soon.

...and the jobs funnel to despotic/unstable regimes will only increase; we'll be asked to further ignore border jumping from Mexico. No thank you, but we don't need another devastation of the Midwest and further illegal immigration to our South.

 
At 9/17/2009 12:38 PM, Blogger Bill said...

sethstorm: And yet somehow we are a far richer society than in the 1980s. I wonder how this happened...

Your ignorance is astounding.

 

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