Understanding Consumption vs Production

Here's a comment I recent posted on Cafe Hayek:

Hawkins writes: "Production must be the center of policy because it not only provides goods and services but also generates the income for those who work so they can become consumers (and savers). We have before us the ruins of an economy that has for a generation been based on consumption funded by debt rather than on income from production."

The flaws in this paragraph are numerous, but I would just point out the first: "Production must be the center of policy..." Neither production nor consumption should be the "center of policy" (whatever this means). Individuals should simply determine and act on their own preferences and other individuals should meet those preferences via supplying them with what they desire for an agreed upon price. The only role for "policy", (and I assume Hawkins means government here) is to protect property rights, maintain the sanctity of contract, and invoke appropriate judicial measures when necessary. To purport the need for centrist policy, as Hawkins does, is to only advocate the restriction of liberty and prosperity.

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