"Let them Have Stock" Common Sense (syndicated radio program) By Paul Jacob April 19, 2003 "Let Them Have Stock" When this war is over, will Iraq be free? Will the people enjoy the rights and the security of a government that recognizes control by the citizens themselves? Patrick Basham of the Cato Institute is skeptical. He writes, "[T]he realization of Iraq's democratic potential will depend more on the introduction of a free market economic system and its long-term positive influence on Iraqi political culture than on a United Nations-approved election." He's got a point. So how can we improve the odds for freedom? Gregory Fossedal, author of "Direct Democracy in Switzerland," offers a novel idea. Give every Iraqi citizen an equal share of stock in the nation's oil reserves. We keep saying the oil belongs to the Iraqi people. Well, shouldn't it really belong to them, then? Already, a fight is brewing between France, Russia and the U.S. -- all of whom would like to play a role in Iraqi oil after the war. Well, that's fine, everybody wants to play a role in helping count the money and that's just what the marketplace is there for. But before the oil is chopped up politically in the mere name of the Iraqi people, why not instead truly give the oil to the Iraqis? No doubt such a process would still require deciding a ton of complex issues, but it could be done -- officially, legally. Give every Iraqi his individual share in real stock. It might be a good start in letting the Iraqi people begin a wonderful journey into political and economic freedom and decision-making. That's the mission, after all. This is Common Sense. I'm Paul Jacob. ************************************************* The opinions expressed in Common Sense are Paul Jacob's and may not necessarily represent the position of U.S. Term Limits or the U.S. Term Limits Foundation. Paul's daily commentaries are heard on radio stations nationwide and on the Internet. |