Archive for October 5th, 2009

Private Insurance Saves Lives

October 5, 2009

For those of you who believe that nothing good comes out of free market economics, consider this: The IIHS (Insurance Institute for Highway Safety).

Comparing the 2009 Chevrolet Malibu versus the 1959 Chevrolet Bel Air reveals a lot of technological advancements. (link) Was it government regulations and mandates that created this technology? Or was it market forces?

The reason why we have the technology we have today, with its accompanying lifestyle and safety, is not because we’ve had the most dictatorial and oppressive government in world history. It’s much the opposite. Because our government has been constrained by the constitution, and because our people have chosen to be ruled by God (namely, laws based on morality) and not men, we have experienced more wealth than any other people or individual in the history of the world. The poorest American lives a richer lifestyle than the Emperors of Rome.

The reason why cars are safe is becase the consumer demands safe cars. If driving one car of similar price will give you greater safety, the market tends to sell more of those cars than the less-safe ones. If given the choice between safe cars and cheap cars, we’re more likely to buy safe cars.

The best thing we can do for ourselves is to free our markets from government control.