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Sunday, April 05, 2009
Austin Hill :: Townhall.com Columnist
Is Barack Obama The "Moral Alternative" To Capitalism?
by Austin Hill
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Don’t kid yourself - - this is high-stakes stuff. If the mechanisms of the free market - - that is, private persons and organizations who, driven by their own natural interests, seek to acquire the best possible goods and services at the lowest possible prices, and who seek to sell their goods and services for the highest price they can get for them - - if the decisions and behaviors of individual private citizens don’t produce a desirable outcome, then which individual can make all the “right” decisions, and mandate all the “right” behaviors, so we can all enjoy a desirable outcome?

People of the “protester mentality” don’t often consider these more detailed, more delicate, and more difficult questions. Yet, world history is replete with kings, queens, dictators, and - - yes - - even Prime Ministers and Presidents - - who are certain in their own minds that “as long as I’m making all the decisions, then things will turn out good.”

This is precisely the certainty that President Obama displays. In the past three weeks, alone, our President used his influence to oust the C.E.O. of the General Motors Corporation, and now appears to be more-less hand-picking a new board of directors for G.M. As was noted in a Washington Times article two weeks ago, Mr. Obama’s Treasury Department appears to be creating a new position in our government - - the office of the “U.S. Executive Compensation Specialist” - - a government appointee who will determine how much money business managers and executives will be “permitted” to earn, and who will also seek to take away earnings from Americans who are believed to have been paid “too much.” It also appears that, via the Treasury Department, Mr. Obama intends to have other CEO’s removed and replaced as well.

So is this the pathway to a “more moral” U.S. economy? Nobody questions that there have been serious failures among many American corporations. But does this one man, Barack Obama, know the banking, and insurance, and automotive, and healthcare, and energy businesses so well that he, alone, can determine what are “fair” wages, and prices, and practices in all situations.

Such an assumption of the U.S. President defies the limitations of the executive office as set forth in the U.S. Constitution. But constitutional limits don’t seem to matter to our current President.

So now it is left to the American citizenry and the U.S. Congress to determine if this one man, Barack Obama , is so wise, so all-knowing, so just and so good, that he can make all the decisions necessary to produce this “more moral” economy. How will the American people respond to this all-important question?

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About The Author
Austin Hill is a Talk Show Host At Boise, Idaho's 580 KIDO Radio, and a frequent Guest Host on the Fox Newstalk Radio Network. He is the Author of "White House Confidential: The Little Book Of Weird Presidential History," And Co-Author of the forthcoming title "The Virtues Of Capitalism: A Moral Case For Free Markets" (Northfield/Moody Press, 2010).
 
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Lilly
"For thirty years now we have cultivated a system in the United States that allows unregulated behavior and great wealth for the few, at the expense of the many."

I assume you're talking about Capitalism. You couldn't be more wrong. For many decades, capitalism has been highly regulated and yet still worked well enough to make everyone richer.

It is the government oppresion of capitalism that breaks the economy. Capitalism has it's own limiting mechanisms but our government doesn't allow those to work.

The creation of wealth from capitalism is what ultimately led to releasing children from sweat shops.

You operate from the entirely incorrect premise that increasing wealth for one, takes from another. You operate from many other false assumptions but after 80 or so years of being completely wrong, I doubt we'll see a promising epiphany from you anytime soon.

worth a ditto
re:

(cogent, sagacious post-- TOO FEW GET THIS!)

Wendy Location: WA
Reply # 47
Date: Apr 5, 2009 - 9:12 PM EST

Put the blame where it belongs

"Nobody questions that there have been serious failures among many American corporations."

Yes, I do. There is simply no evidence that the banks had bad business models. The crisis was entirely caused by the government--when it enforced the mark-to-market rule--not the private sector. Now that mark-to-market has been defanged as of April 2, you will have unquestionable proof of what I am saying very soon, when the Dow rolls past 10,000 and the bank stocks recover. The correlation will be so clear, it may very well be the most clear-cut correlation ever in the history of economics, and there will be no denying it after that.

The government also interfered in any number of other harmful ways, including the CRA, Fannie Mae, Freddie Mac, loose fiscal policy, loose monetary policy, credit rating rules, capital reserve rules, etc. The list of government interferences runs like a roll of toilet paper.

How can the very same people who claim that capitalism works and that government interference causes market failure, then turn around and "admit" that the private sector failed here? Get your belief system straight! The liberals are taking advantage of your doubt and confusion to push their "moral alternative."
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