4th of July Primer: Why the US Economy Produces Results When Others Don’t

“A people, who are possessed of the spirit of commerce, who see and will pursue their advantages may achieve almost anything.” - George Washington

The American economy has uplifted more individuals out of poverty than any other in history. As we celebrate our freedom and independence, let’s consider why this economy has achieved its historic success.

At the heart of the US economy lies a governance system that values freedom. And likewise, the American dream is deeply rooted in the liberty to work hard, continuously improve oneself, and strive for greatness.

That’s because the founding fathers created a nation where individuals could pursue their ambitions and seize opportunities. As George Washington stated, "A people, who are possessed of the spirit of commerce, who see and will pursue their advantages may achieve almost anything." This spirit of commerce, fueled by freedom, has been a driving force behind the US economy's remarkable achievements.

The US economy thrives on the principles of the free market, which operates on the very essence of freedom itself. According to Andrew Crapuchettes, CEO of RedBalloon, "The free market works because of freedom. That's how it's designed."

Recent fads such as Diversity, Equity, and Inclusion (DEI) and Environmental, Social, and Governance (ESG) have struggled to create sustainable results in the American free market. "DEI and ESG continue to falter in the marketplace. They aren't about freedom; they flip the script by requiring government action to limit and suppress our freedoms, not protect them," said Andrew Crapuchettes.

As we commemorate Independence Day, Americans are also celebrating the role freedom plays in the remarkable success of the US economy. The American spirit of self-determination, entrepreneurship, and innovation has allowed the nation to create an economy that surpasses all others in lifting people out of poverty.