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Libertarian Economics in Inaugural Addresses


Libertarian Economics in Inaugural Addresses
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Inaugural addresses have historically been used by incoming or returning Presidents to outline the broad principles by which they intend to govern. With the exception of the federal budget and taxes, the limited reach of early U.S. federal governments meant that, up until the progressive era of the late 19
th century, these speeches contained little mention of economic
policies. That, of course, has all changed since FDR and the 1930s. Donald Trump’s 2017 speech had a particularly dark tone for free-marketeers, claiming policy should “protect our borders from the ravages of other countries making our products, stealing our companies, and destroying our jobs.” Given the pandemic and his stated policy ambitions, one suspects Joe Biden may outline a whole range of new ways he wants the federal government to intervene in the market economy in his speech today too. ....

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2021: An arresting start


ANOTHER election cycle brings the US a new president, another Congress and a new Federal administration. A cynic might see the changes as cosmetic, a mere opportunity for another collection of political operatives to grift, to peddle influence and to accumulate power.
Lobbyists favoured by the Democratic Party will now have access to more elected officials and agency and bureau heads, while their Republican-favoured counterparts must now work lower on the food chain until their turn comes up again.
Campaign contributions will determine consulting contracts, the flow of government monies and ceremonial appointments. Where some see corruption, others see opportunity. ....

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