Economic Freedom

The LIBRE Initiative is a non-profit, non-partisan organization that works with the U.S. Hispanic community to advance the principles of economic freedom that lead individuals to prosperity. LIBRE believes that prosperity encompasses the American Dream and the prospect of attaining it has drawn millions of people to our shores.

The principles of economic freedom, coupled with hard work and personal responsibility, have proven record of generating long-lasting economic growth, opportunity and prosperity. Now more than ever, it is our responsibility to defend economic freedom as the best way forward for the United States.

Our “Be LIBRE” video talks about the importance of the five principles of economic freedom to prosper, here are the reasons why:

• PROPERTY RIGHTS

  When property rights are clear and well-defined, one knows that what belongs to one person must be respected and will be protected under the law. With little uncertainty, a person can make informed decisions about whether to sell and/or invest in his/her own property, and what risks he/she is willing to take to move up the income scale and prosper.

• RULE OF LAW

  When laws are not stable or unclear, or when they change constantly, it is hard to know when one is acting lawfully. The business owner expends more resources to just keep up with the laws (and avoid breaking them), and less in producing, expanding and creating jobs. He or she may even need to hire a lawyer. Just consider how difficult the task can become for aspiring entrepreneurs to become business owners when their resources become more limited due to unstable laws.
  (The Rule of Law comprises more principles than those highlighted in this summary.)

• SOUND MONEY SUPPLY

  When the value of a country’s money changes constantly, it creates a lack of trust among prospective investors. If they consider the risk of investing in one country too high, then they will likely decide to invest in another country with a more stable currency. And, less investment usually means creation of fewer jobs, resulting in decreased economic opportunities that can help individuals, families and communities prosper.

• FREE TRADE

  Protecting our system of free trade is important because no single person can ever possibly know how to allocate resources in society. It is impossible to know what each person needs or wants, in what quantity and how much each individual is willing to pay for any particular item. Business opportunities surface when entrepreneurs explore current consumer needs and wants that no one is providing. If they produce something needed or desired for those who are willing to pay for it, they create their opportunity to prosper.

• LIMITED GOVERNMENT

  When the government starts getting involved in activities that the private sector can do better, it stops doing the things that it should be doing in an effective an efficient manner, such as defending our property rights. When the government makes too many laws and regulations, it makes it more difficult for entrepreneurs to innovate, expand or simply manage their businesses.