The latest issue of Imprimis from Hillsdale College features remarks from Texas Sen. Ted Cruz’s recent commencement address, which touted the value of economic freedom.
[M]ost importantly, freedom produces opportunity. And I would encourage each of you to embrace what I call opportunity conservatism, which means that we should look at and judge every proposed domestic policy with a laser focus on how it impacts the least among us—how it helps the most vulnerable Americans climb the economic ladder.
The political left in our country seeks to reach down the hand of government and move people up the economic ladder. This attempt is almost always driven by noble intentions. And yet it never, ever works. Conservatives, in contrast, understand from experience that the only way to help people climb the economic ladder is to provide them the opportunity to pull themselves up one rung at a time.
As President Reagan said, “How can we love our country and not love our countrymen, and loving them, reach out a hand when they fall, heal them when they’re sick, and provide opportunity to make them self-sufficient so they will be equal in fact and not just in theory?”
Historically, our nation has enjoyed remarkable economic mobility. About 60 percent of the households that were in the lowest income quintile in 1999 were in a higher quintile ten years later. During the same decade, almost 40 percent of the richest households fell to a lower quintile. This is a nation where you can rise or fall. It is a nation where you can climb the economic ladder based not on who you are born to, or what class you are born into, but based on your talents, your passion, your perseverance, and the content of your character.
Economic freedom and the prosperity it generates reduce poverty like nothing else. Studies consistently confirm that countries with higher levels of economic freedom have poverty levels as much as 75 percent lower than countries that are less free.
One suspects the senator would not be surprised by other evidence of the important role economic freedom plays in improving people’s lives.
