Freedom, Politics, Economics
Politics and Economics from the eyes of Henry David Thoreau
To begin, Henry David Thoreau was very unique during his era, primarily due to his forward thinking style and rationality. In regards to economics, Thoreau would not favor the expanded powers of government currently prevailing in America. In fact, Thoreau often advocated for limited government with powers only responsible for the protection of society from foreign competitors. Thoreau is often quoted for saying, "I ask for, not at once no government, but at once a better government." In this quote he often refers to a limited government as best for the constituents of the country as a whole. As such, Thoreau would not be supportive of many of the progressive laws expanding government control and influence. Aspects such as universal healthcare and disaster relief funding, Thoreau would be against on a federal level. However, if individuals as a collective unit want to support healthcare, they are free to do so under their own means. As such, Thoreau is often viewed as anarchist for his beliefs in a very limited function of government. Further compounding this issue of limited government is Thoreau's notion on taxes. During his youth, he had been a stark advocate against taxes. In fact, Thoreau on July 25, 1846, was arrested for not paying a poll tax. He has been an advocate for very low taxes. As such, he would also disagree with many of the economic and political policies currently in place in America (Howarth, 1982).
Aspects such as quantitative easing would be against Thoreau's government responsibilities. By printing large sums of money, the government is attempting to lift asset prices throughout America, created a "wealth effect." As assets such as stock, real estate, and home values rise, Americans will feel more confident about their financial future. They therefore will spend more, and encourage economic growth. This notion however, is in contrast to Thoreau's beliefs. For instance, programs such as QE, take government powers too far. In addition, Thoreau would exclaim that inflating asset prices is politically motivated and is not in the overall best interest of society. He would rather allow individuals to make their own decisions regarding their finances. Furthermore, Thoreau would be an advocate for women's rights. During his era Thoreau was very active within the civil rights movement. He assisted in the underground railroad, opposed the fugitive slave law, and joined the abolitionist movement. As such, I believe he would be equally vehement about the roles of women in society today. Aspects such as wage disparity and inequality would all be attacked politically by Thoreau (Richardson, 1986).
Thoreau in regards to economics is an advocate for capitalism. Thoreau in a writing once remarked, "I am refreshed and expanded when the freight train rattles past me, and I smell the stores which go dispensing their odors all the way from Long Wharf to Lake Champlain, reminding me of foreign parts, of coral reefs, and Indian oceans, and tropical climes, and the extent of the globe." Thoreau believes in the merits of capitalism and would be please in the transition America has made in regards to innovation. In fact the Dow Jones Industrial average in 1900 was roughly 66 points. In the year 2000, the Dow was at 11,400 points. That meteoric rise is due primarily to capitalism. Thoreau realized its merits and believed in its ability to improve the overall quality of life for society overall (Petrulionis, 2012).
In conclusion it seems that Thoreau's economic beliefs are at odds with one another. He is an advocate for capitalism and its merits. This is indicated frequently in his writings. However, he does not believe in the role of government and taxes in regards to maintaining the transparency of the markets. Taxes are needed to maintain an economic system much in the same manner a home owner pays association fees. The government is needed to maintain the competitive forces of industry and innovation. Taxes are therefore needed to pay for personnel, legal expenses,...
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