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OAN Commentary by: Theodore R. Malloch and Nicholas Capaldi
Monday, January 19, 2026
Most Americans believe in limited government serving the market economy under the rule of law, defined borders, and advancing technological progress. Trump won the 2024 national election based on it, remember?
The Davosians in their Great Reset, instead favor multinationalism, a maximal state, based on ESG and DEI, ruled and over-regulated by a global unelected elite.
When Davos convenes this year, next week in Switzerland, its crusty old founder, Mad Herr Dr Schwab is gone—exited in a scandal. New leadership, based on the same old leftist values, enters center stage, with the bossman of Blackrock, Larry Fink, an Obamaite, at its helm. President Trump is said to lead the largest US delegation ever to the stale event.
So, what should Trump announce?
He should tell the attendees the truth. Technological Progress control of nature for human benefit requires a free market that maximizes creativity (imagination and innovation) within private property where there is no central allocation of resources.
This spirit of democratic capitalism is what has defined the American experiment and differentiates it from the experience of all other countries. We do not have socialist values and have never been encumbered with communism or any form of dictatorial program. The rest of the world should take note and learn.
The nascent era of globalism is over and done with. Trump ended it.
The Nation State (thru its legal system and deregulated open market) enforces contracts and protects property rights. The role of such a virtuous National State is well defined in both theory and practice. It is enshrined in case law, precedent, legislation, economic institutions and a reverence for the market as the final arbiter of fairness and competition.
Davos has been dead wrong and now it needs to face the new drummer. It is time to renounce its former, erroneous ways. Bend the knee or disband.
Any permanent monopolies undermine competition; in a free market, monopolies and anomalies are short lived. The history of US economic development curtains uncompetitive features, oligarchies, insider trading, and market manipulation or concentration. It also has no room for bloated, inefficient, corrupt State-Owned Enterprises.
This principle (rooted in Lockean Private Property) works internationally as well–al la Smith and Kant, it leads to a world in which there is perpetual peace and maximum creativity to everyone’s advantage. The incentive structure rewards those who invent, invest, take risks, and build enterprises. This is why under Trump; the US economy is presently growing at over 5% per annum. It is why the US leads in Intellectual Property, company formation and innovation, venture finance, and critical businesses for the future such as AI, Crypto, Space, and Quantum Computing.
Think about US policy toward Japan and Germany post WWII
If the whole world were one free market, there would be no problem. Clearly, it is not. However, our world has (1) multiple States; (2) Rogue States, as well as (3) organized efforts to undermine free markets in favor of centrally planned economies, climate lunacy, wokism, and even one world socialism.
Davos has contributed to this failed state of affairs and has for decades been a center point of anti-American and anti-market sentiment and ideas.
The globalism favored by the United Nations, World Economic Forum, and the European Union is a debacle and a proven, unmitigated failure. Look around. It has collapsed and Europe is a civilization past its prime.
President Trump realizes this and boldly said so. He must do so again next week to the very audience that despises him most.
The era of multipolar power is over, shakeholderism is a farce, and the Trump US National Security Grand Strategy articulates a new order for the first time since 1945. Davos can get on board or be irrelevant.
Multiple States
In a world of multiple competing nation states, competition maximizes productivity. As long as any product can be accessed by all, everyone benefits from competition (medical equipment and procedures, medications on the open market, raw commodities and goods). Private companies in one country profit from making their products freely available on the open international market or even manufacturing them in multiple countries. Think of Apple phones, and various computers and chips, as examples. But strong nation states want and need to secure their domestic industrial bases and supply chains.
Many countries have different competitive advantages; however, lower wages (not enforced by government or slave labor) are only a brief advantage soon overcome when workers can demand higher wages, buy competitively priced products from yet other countries, and labor + investment is internationally mobile.
Territories without any conceivable competitive advantage realign either as part of another viable national economy or create new countries with new borders to produce new international entities that are hopefully more competitive. Trump has already said Canada should become the 51st US state. Greenland is a security and resource that the US needs for its long-term national interest.
Most advantages are short term in a truly competitive market; there are, however, temporary labor displacements.
The State develops numerous worker compensation schemes, insurance, and retraining programs, based on trading patterns and dislocations. These too are temporary and not intended to become permanent or unethical ways to fleece the government.
All this requires a cooperative educational system that constantly keeps people informed of new developments and can train/retrain for newly emerging market conditions. Companies and employees both must show that they understand how the market economy functions in order to succeed. Trying to get special dispensation, do end runs, or seek special treatment is a misuse or abuse of the system.
The State must also provide public education on how the market economy works not just the political system in civics education. At every level education too should be competitive, disestablished, and deregulated to best respond to the needs of families and a skills-based economy. Rogue educational monopolies should be closed and teacher unions disbanded. Vouchers and trade schools should be the rule not an exception.
Rogue States claim to be socialist and generally are to some extent. Socialism is a national/international planned economy that appeals to a so-called collective good. Collectivism is the reigning ideology not individualism in such nations. This runs counter to US expectations and must be countered whether it be Cuba, China, or Russia. Venezuela will be a demonstration of a turnaround from Chavista collective Marxism to freedom—in every sense.
Collective goods are determined (objectively) by maximum productivity or (subjectively) by periodic democratic vote. Neither version works long term. As argued by Hayek (a) markets cannot in principle be planned, and (b) inevitably require repressive anti-democratic rule, as he articulated in The Road to Serfdom.
What is the role of the state in a mercantilist (inevitably become socialist) world or in a world of rogue socialist states?
The Free-market State must protect the national economy. Trump knows and practices this. Just watch.
Now property rights (reclamation of nationalized property, canals built by U.S. under treaty, federal lands, the TVA) should become privatized.
The US is totally committed to competitive prices including labor thru tariffs. Such tariffs as enacted under Trump rebalance national accounts, make trade fair, and put a halt to unfair trading regimes, dumping, and non-tariff barriers to trade. Already the entire world trading system is shifted thanks to one President Donald J. Trump.
The State must take prudent offensive action to protect market access to resources. America under Trump is attempting to do just this on rare-earth minerals (Ukraine, Venezuela, China, and Greenland) and in oil. It is reshoring manufacturing, taking in massive foreign direct investment, and closing down China and our other adversaries.
There is no free market without a government that enforces contracts, protects property rights, and understands the big picture. Face it: no private organization can do this.
Individual entrepreneurs are successful in a competitive market to the extent that they are fully fixated on their individual companies. The same goes for all the other factions: unions; localities; educators; financial institutions. What they all lack is the big picture of the Wealth of the Nation. Any one of them will sell out the nation for individual gain. To the extent that the government is captured by any specific interest group, the government cannot promote the wealth of the nation. Properly understood, a government that truly works for the nation can apply the very same principles to the international domain. Trump is the first president who understands the big picture for the US and for the world because he is not a pawn of a specific industry or ideology. That’s why Davos dislikes him so much.
Listen up Davos, there is a new sheriff in town, and his definition of national states goes like this: The Nation State is an institution embracing both government and citizens, organized for the administration of justice, and based on the monopoly of coercive power over a particular territory. The structure of the nation state is obtained by understanding the normative political manner in which the state functions in all the basic ontological aspects of reality.
America is not just back, militarily, politically, economically, spiritually, and culturally. It is and will be the dominate power, reclaiming its hemisphere.
(Views expressed by guest commentators may not reflect the views of OAN or its affiliates.)
Theodore Roosevelt Malloch and Nicholas Capaldi are two of the leading conservative thinkers in America. They both come from Philadelphia, the City of Brotherly Love and the birthplace of American independence. Professors and authors of many books on political economy, their book, America’s Spiritual Capital is a testament to the economic logic of modernity and all those down the ages who have given their lives, limbs and spirit to the defense of liberty.
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