An Obama presidency would lead America towards a European "social market economy." The political planets are aligned to make this achievable. In the aftermath of the financial crisis, prominent Democrats, European leaders in France and Germany and more U.S. newspaper articles than one can count have said that the crisis proves the need to permanently tame the American "free-market" model. P.O.W. Alan Greenspan is broadcasting confessions. The question is: Are the American people of a mind to throw in the towel on the system that got them here?
This would be a historic shift, one post-Vietnam Democrats have been trying to achieve since their failed fight with Ronald Reagan's "Cowboy Capitalism."
Of course Cowboy Capitalism built the country. More than any previous nation in history, the United States made its way forward on a 200-year wave of upwardly mobile, profit-seeking merchants, tradesmen, craftsmen and workers. They blew out of New England and New York, rolled across the wildernesses of the Central States, pushed across a tough Western frontier and banged into San Francisco and Los Angeles, leaving in their path city after city of vast wealth.
The U.S. emerged a superpower, and the tool of that ascent was simple -- the pursuit of economic growth. Now China, India and Brazil, embracing high-growth Cowboy Capitalism, are doing what we did, only their cities are bigger.
The e-mail didn't come with a link, and I was unable to find it on the Journal site.
UPDATE 9:35pm CST: That friend of the blog sent the link.
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Baloney,
ReplyDeleteWhat Obama has proposed, that the wealthy pay their fair share (more) in taxes, has been touted by US leaders since the country was founded and especially championed by Republican "Teddy" Roosevelt.
On the other hand "socialism" has been forced to save Capitalism over and over and over again. The first bailout (giving huge amounts of money to the irresponsible wealthy) was for worthless bonds in 1796 or '97. The joke goes: Why will capitalism always survive? Because socialism will always be forced to save it.
It is more un-American and harmful to prosperity to have a filthy rich "royalty" class controlling the government and the economy. That is what we fought our revolution against.
You have it backwards.
Peace,
JK