Saturday, November 17, 2018
   
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The Tunica Times • P.O. Box 308/986 Magnolia Street, Tunica, MS 38676

Guest Column: Governments should get out of the way of the free market

I was looking at a credit card receipt the other day at a restaurant. On the receipt, there was a “transaction id.” It was a number with 15 spaces. That’s a lot of space, enough for 999 trillion transactions.

Worldwide there are half a billion credit cards, a number that is increasing rapidly. Even with 15 spaces, we may be needing to add more spaces in the next 50 years.

Each one of those 999 trillion transactions represents a consumer using his or her money to buy something. People don’t easily part with their money. Those transactions represent crucial information about what really matters to people in the marketplace. If you add cash transactions, the number of transactions gets even greater. It is a huge amount of information about what people really want and need.

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