Wealth Creation a Benchmark of a Country's Success, Chief Judge Says
Citizens' ability to create wealth is a measure of a healthy, functioning nation, Chief Judge Edith Jones of the U.S. Court of Appeals for the 5th Circuit said Wednesday in Caplin Pavilion.
Jones, a Texan nominated to the 5th Circuit by President Ronald Reagan in 1985, said there has been a trend toward a more "collectivist mindset" since the Reagan years.
"When individuals create wealth, they enhance the power of their government," Jones said, pointing to government's ability to tax wealth as an example of how private wealth contributes to the greater good.
Jones said Western traditions have supported individual ownership of wealth for thousands of years, that it is an essential foundation of our form of government, and that it is likewise essential for humanity to flourish.
Through wealth creation, she said, "we represent our sense of selves and the ability to control our own lives to a degree."
The Federalist Society sponsored Jones' talk. Jones previously gave a speech at the Law School in 2003 outlining her criticism of the U.S. Supreme Court. (More)