Rick Kelo- Free market Capitalism and the Drive towards Progress

Since the age of Reagan and Thatcher, the neo-liberal doctrine of free-market capitalism has slowly imposed itself on Western society. For classical liberal economics thinkers, this is progress that needs to be made for the growth of capitalism, and in turn the economy. One such thinker who has taken to the internet to share his knowledge and inform readers on such economic issues is Rick Kelo. Belonging to the same school of thought as the Austrian and Monetarist traditions, Rick Kelo believes that capitalism and free-markets are the drive humans need to progress into the future.

You can find out more about him here at Recruiter Profile: Rick Kelo in Chicago, IL. Rick Kelo is a prolific writer and runs a highly informative blog and website. He uses this as a platform to discuss, analyze and inform of modern government policies and economic ideas that are shaping the world as we know it today. Rick Kelo uses his education to compare America to other nations economic systems, to compare and contrast how they have effected the society as a whole. He recently wrote an article entitled “What Capitalism Did to Botswana” where he looked at the growth of free-market Botswana against the stagnation of its neighbor: Marxist Zimbabwe.  The laissez-fare trading and economic policies in Botswana are often credited for its economies sharp rise to becoming one of the most affluent African nations, and in turn dragging millions out of poverty.

In a more recent article, he compared Botswana to America, specifically heavily interventionist Detroit, and how they differ in these terms. In 1960 Detroit was the #1 richest city in America. In 1961 it came under 1 party rule by the Democratic party. Detroit has struggled under countless economic interventions: high taxes, union favoritism, cronyism / favoritism toward its couple biggest businesses and so on. Detroit is already in America, the most heavily regulated nation on earth, but piles mountains of additional legislation & regulation on top of that. In comparison, Botswana does the complete opposite of this.

As a result, the infant mortality rates in Detroit are 120 per 100,000, and in Botswana 99 per 100,000. Further stats follow a similar pattern; income per capital in Detroit is $14,861 compared to Botswana's $19,316; and alarmingly debt to GDP in Detroit is 90% to Botswana's 14.5%. If you want to hear more about Rick Kelo, and read some more of his economic analysis, then go to About Rick Kelo to learn more.