When big business and government get too cozy, they kill competition through favorable rules that hurt everyone else. The speaker argues separating politics from business would restore economic dynamism, pointing to Henry Ford's assembly line as proof that production innovations raise living standards and reduce poverty.
You'll no longer have these big businesses that are married to government. Together, they create things that block out competition. They create regulations that the big businesses are happy to have because it blocks out competitors from rising up and taking away their business. So you get the politicization out, you get politics the hell out of business, and business the hell out of politics, and you no longer have politics, period. It's a new dimension. Things will move like I just described, like the cars. And what happened to the standard of living then, by the way, when Henry Ford perfected the assembly line, that moved, the production line moved through all different industries. And the standard of living shot up in America thanks to that. Thanks to Henry Ford. So prosperity will soar, poverty will go away, because the standard of living will just begin to rise. That's what will happen.
