Arthur C. Brooks:
Free enterprise brings happiness; redistribution does not. The reason is that only free enterprise brings earned success.
Earned success involves the ability to create value honestly -- not by inheriting a fortune, not by picking up a welfare check. It doesn't mean making money in and of itself. Earned success is the creation of value in our lives or in the lives of others. Earned success is the stuff of entrepreneurs who seek value through innovation, hard work and passion. Earned success is what parents feel when their children do wonderful things, what social innovators feel when they change lives, what artists feel when they create something of beauty. . . .
Not surprisingly, unearned money -- while it may help alleviate suffering -- carries with it no personal satisfaction. Studies of lottery winners, for instance, show that after a brief period of increased happiness, their moods darken as they no longer derive the same enjoyment from the simple pleasures in life, and as the glow of buying things wears off. . . .
The goal of our system should be to give all Americans the greatest opportunities possible to succeed based on their work and merit. And that's exactly what the free enterprise system does: It makes earned success possible for the most people. This is the liberty that enables the true pursuit of happiness.