Economics can really be a tricky topic. One of the many reasons that this is true, is because economics is so vastly affected by changes in technology. You cannot take what works today and apply it 200 years ago without dire consequences just like you can't take what worked 200 years ago and apply them today without causing a massive catastrophe. Therefore, that brings us to the first rule...
1. The Rules of Economics must be fluid.
How to keep the rules of economics fluid doesn't really have a universally accepted set of guidelines. In fact, it's constantly debated among many circles. Perhaps it is a good idea that every law pertaining to economics must sunset in 365 days (can be renewed every year if working, not if it isn't), and must be written in clear and concise language with a very well defined goal.
2. All people must have the right to conduct business and have an equal opportunity to do so.
This seems obvious, but there are laws that keep people from forming a sole proprietorship. As an example, to be a taxi cab driver in certain places requires heavy licensing fees in the range of several thousand dollars. This is no problem for someone who is already wealthy, but a big problem for a young person just starting out. This is also important because the Internet has allowed people to connect directly to other people instantly anywhere on the globe. Services can be rendered, and goods can be shipped easily and inexpensively. Like it or not, the world is already a loose-knit confederacy, and we need to be able to conduct business in this confederacy.
3. New technology must be allowed to thrive.
If the United States government had banned automobiles because mass production of them would have put horse breeders and carriage builders out of business, life wouldn't be as we know it today. This principle can also be seen with taxi companies with the invention of Uber and ride sharing services. Peer to peer business is made very easy with technology and mobile smart devices, along with clever entrepreneurs coming up with ways to use the technology to benefit themselves and their customers.
4. Companies should not be allowed to lobby legislators.
Companies tend to lobby legislators with bills that sound like they have the people's best interest in mind, but are actually a guise to limit competition. The government is supposed to work for all people, not just certain groups. Which brings us to the next rule...
5. The people must never be split into groups or classes.
Splitting people into classes or groups only breeds resentment between those groups. Each person must be treated as an individual, and must be held equally accountable under the law.
6. Governments must be lean and efficient, and operate in a budget.
As we saw with the fall of the Soviet Union and the financial crisis in Greece, budgets must be set and followed as closely as possible. This doesn't mean that governments can never borrow money, it just means that the loan must be paid off in a reasonable amount of time. The suggestion of all programs sun-setting after 365 days would help with things staying lean. Each year, if a program is extended, there is an opportunity to fine tune things, scrap them completely, or extend them if necessary.
7. Taxes should be simple.
A modern country should have a simple tax code. One that is easy to remember, and very clear. Many people get into trouble with tax collectors every year because they were unable to understand the tax code. Having concise rules would also greatly reduce the amount of loopholes that can be exploited.
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