JC, our Horatio on the bridge, took on all comers at Club Troppo over this post, “Capitalism is only harmful when bad people abuse it (and other conservative myths)”. The gist:
Promoted by Winning Our Future, a pro-Gingrich super PAC, ‘When Mitt Romney Came to Town’ features a series of poignant interviews with workers who lost their jobs, houses and health insurance coverage when the businesses they worked for were restructured or went under.
This misleading video illustrates what’s wrong with American conservatism today — an unwillingness to talk honestly about how free markets drive technological change and generate wealth. The economist Joseph Schumpeter called it ‘creative destruction’. Economies grow as new technologies replace older ones and industries and jobs move to where work can be done most efficiently.
It is we conservatives who show “an unwillingness to talk honestly about how free markets drive technological change and generate wealth”? Gimme a break. It is free markets that drive tech change and generate wealth. But it is not “tech change” as such, but entrepreneurs, those people, like Mitt Romney, who do the driving and if they succeed, end up very wealthy. To present it as “tech change” means that rubbish like the NBN or batts in the belfry might get counted. This man really needs to get a copy of my book.
Newt Gingrich was hammered from pillar to post by us conservatives for attacking Romney’s role in creating wealth at Bain and Co. No one I can think of said a good word on Gingrich’s behalf, and many said quite a lot of very bad words about this ad made for Gingrich. It is why so soon as we conservatives had actually looked at what Gingrich was saying and what he stood for he disappeared as a serious contender. It was clear that despite all his bluster, he was a “progressive”, that is, a complete nong. It is why he has now disowned the ad.
But meanwhile you folk over there on the non-conservative side, it is time you owned up that it is not some abstract force called tech change but the very direct application of talent and risk by our entrepreneurial class that create the wealth. Can I take the following as a straightforward criticism of Obama and Gillard, looking in each case at the car industry just for starters:
Instead of using tax payers’ money to prop up failing businesses, governments can let uncompetitive businesses fail. Instead of trying to generate jobs by picking winners, governments can leave the selection process to the market. Freeing markets will accelerate the process of creative destruction and create wealth.
Will he say that Obama and Gillard are WRONG? You really wonder how deluded this man is about the United States and indeed about every free market economy everywhere:
If conservatives would confront the reality of markets honestly, then Americans could have a serious debate about how to protect individuals and families while allowing markets to operate as efficiently as possible. It’s a debate that might include issues like health insurance, education, social security and social assistance. And it would mean giving up the pretense that tax cuts and deregulation are the solution to everything.
I know it’s not popular to mention it at the moment, but it was Mitt Romney who introduced Health Care into Massachusetts, and he defends it still. Meanwhile Obama is bankrupting the American economy but I hear not a word of criticism from anyone on the left. It would be nice if there were the occasional recognition by these people of just how much damage Obama has done to all of those families he pretends to care so much about.