Economic Resolutions for Politicians

In today's WSJ N. Gregory Mankiw offers 7 New Year's resolutions for Washington's politicians. Here is #7:

"This year I will be modest about what government can do. I know that economic prosperity comes not from government programs but from entrepreneurial inspiration. Adam Smith was right when he said, 'Little else is required to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice.' As a government official, I am not going to promise more than I can deliver. I am going to focus my attention on these three goals -- peace, easy taxes, and a tolerable administration of justice -- and I am going to trust the creativity of the American people to do the rest."

If only a few of them would so resolve, eh?