Mr Floru sent me a copy of his book for review. His study of the USA, UK, Chile, Hong Kong, Germany, New Zealand and Singapore demonstrates how free enterprise policies generate more wealth and prosperity for all.
He favours reducing the proportion of the state in the whole as the economy grows. He believes in slimming oversized states by prrivatisation and deregulation. He feels the private sector needs to be given enough freedom and space to grow, innovate, create jobs.
His case studies over time and ranging widely geographically show how a dynamic free enterprise sector to an economy can transform living standards and lifestyles for the better. He agrees that we should always take care of the poor, and make sure competition and the rule of law allows the wealth and income to spread widely for the benefit of all.
Lower tax rates, stable and democratic government, and a climate which favours risk taking and peaceful commerce are important elements for success. So too are free trade and the need to stand up to vested interests. Whilst China has done well growing from great poverty through state sponsored capitalism, Mr Floru thinks they will need to pursue liberty more extensively to catch US living standards sometime.
It is an interesting book with some good case studies. I wonder if the Chancellor will pick up any good points from the success of other countries willing to unleash free enterprise to generate prosperity? The USSR, Cuba and other communist states illustrated just how bad state planning proved for both living standards and individual liberty. The great experiment between 1945 and 1990 in Europe showed the planned system in the East was far worse than the mixed system in the West. The Asuian success stories show the power of free enterprise to lift people out of poverty.