Thursday, November 12, 2009
'Good Advice for the President'
Though I disagree with the ‘Chicago machine’ analogy (Karl Rove employed the same spoils-system politics, openly and cynically borrowing the tactics from Tip O’Neill), Joel Kotkin has some great ideas about how Obama can reset his presidency. … The emphasis on distancing himself from Democratic interest-group politics is key. ... Via Reader No. 1.
BTW: I also liked Kotkin's shots at Wall Street's support for Obama. Maureen was taking her own shots at Goldman Sachs chief executive Lloyd Blankfein for his comment about “doing God’s work.” But there’s one important caveat to consider: What if Blankfein and his Wall Street pals really do believe they’re the essence of capitalism and prosperity – and what if there are government policymakers who hold the same views?
The problem is that financiers are NOT the essence of capitalism. They’re merely an important part of capitalism – along with barber-shop owners, software developers, fishermen, restaurateurs, entrepreneurs, contractors, scientists, lawyers, nurses and others who are allowed to toil within a ‘free-market system.’ I’ve always preferred the term ‘free-market’ over ‘capitalism’ because it’s a more expansive and accurate description of all the human activity that creates a complex free economy and society. But somehow, somewhere the Wall Street boys and their Washington sycophants began to believe they were the essence of the free-market system, justifying their stupendous rewards, taxpayer bailouts and government protection to take enourmous risks with the nation’s money. This really shouldn't be a right-left thing. Conservatives should be appalled that Wall Street has sucked up to government. Liberals should be appalled that government is sucking up to Wall Street.
Though I disagree with the ‘Chicago machine’ analogy (Karl Rove employed the same spoils-system politics, openly and cynically borrowing the tactics from Tip O’Neill), Joel Kotkin has some great ideas about how Obama can reset his presidency. … The emphasis on distancing himself from Democratic interest-group politics is key. ... Via Reader No. 1.
BTW: I also liked Kotkin's shots at Wall Street's support for Obama. Maureen was taking her own shots at Goldman Sachs chief executive Lloyd Blankfein for his comment about “doing God’s work.” But there’s one important caveat to consider: What if Blankfein and his Wall Street pals really do believe they’re the essence of capitalism and prosperity – and what if there are government policymakers who hold the same views?
The problem is that financiers are NOT the essence of capitalism. They’re merely an important part of capitalism – along with barber-shop owners, software developers, fishermen, restaurateurs, entrepreneurs, contractors, scientists, lawyers, nurses and others who are allowed to toil within a ‘free-market system.’ I’ve always preferred the term ‘free-market’ over ‘capitalism’ because it’s a more expansive and accurate description of all the human activity that creates a complex free economy and society. But somehow, somewhere the Wall Street boys and their Washington sycophants began to believe they were the essence of the free-market system, justifying their stupendous rewards, taxpayer bailouts and government protection to take enourmous risks with the nation’s money. This really shouldn't be a right-left thing. Conservatives should be appalled that Wall Street has sucked up to government. Liberals should be appalled that government is sucking up to Wall Street.
