Why Do the Philosophies of the Mixed Economy Matter to You? Part 3
Author: Anvil Smith
Building a Team for the Mixed Economy
When you understand the general nature of the mixed economy, it should help you with your financial decisions, including the kind of advisors and financial representatives you choose. In structuring your financial strategies, you want to work with people who understand both aspects of the mixed economy. You want entrepreneurial mentors who understand the dynamics of wealth creation in the competitive free market. And you want advisors who have the technical expertise to navigate the oceans or rules and regulations as well.
This is true even for those who perhaps don’t see themselves as capitalists, but simply wage-earners who are trying to save for retirement. The people who said they “didn’t worry about the daily ups and downs, because the market always goes up,” were not paying attention to the free-market forces that overwhelmed the supposed “controls.” A little free-market perspective might have changed some decisions and minimized some losses. And for the people now forced to borrow or take early withdrawals from retirement accounts because of these financial losses, it might have helped if someone had offered some alternative accumulation programs with freer access to funds and lesser tax consequences.
- DO YOU UNDERSTAND THE MIXED ECONOMY?
- DO YOUR FINANCIAL DECISIONS INCLUDE THE ABILITY TO PURSUE PROFITABLE FREE-MARKET OPPORTUNITIES?
- AS YOU ACCUMULATE WEALTH, ARE YOU TAKING THE APPROPRIATE “LEGAL” STEPS TO PRESERVE IT?