Free Market Principles

Politicians often make reference to "Free Market Principles", such as President George Bush stating that he had "abandoned Free Market Principles" in order to preserve a free market "system". The Free Market Monument Foundation has compiled a consensus view of what principles are most often sited by those organizations that favor the Free Market over regulated markets.

1) Individual Rights: "We are each created with equal individual rights to control and to defend our life, liberty and property and to voluntary contractual exchange."

2) Limited Government: "Governments are instituted only to secure individual rights, deriving their just powers from the consent of the governed."

3) Equal Justice Under Law: "Government must treat everyone equally; neither rewarding failure nor punishing success."

4) Subsidiarity: "Government authority must reside at the lowest feasible level."

5) Spontaneous Order: "When individual rights are respected, unregulated competition will maximize economic benefit for society by providing the most goods and services possible at the lowest cost."

6) Property Rights: "Private ownership is the most efficient way to sustainably utilize resources."

7) The Golden Rule: "Deal with others honestly and require honesty in return."