What President Obama has been pushing for, and moving toward, is more insidious: government control of the economy, while leaving ownership in private hands. That way, politicians get to call the shots but, when their bright ideas lead to disaster, they...
Great article, Dr. Sowell. In one sense , Obama is a socialist because he wants to socialize more decision-making in Washington. But from an economic perspective, he is is exactly as Dr. Sowell descrtibes him. He wants to leave business in private hands, but regulate it to death. Rather than government owning the means of production, he issues regulations, many of them without Congressional oversight, to control ever larger portions of business operations. And most of it does nothing to advance health or safety, accountability, financial honesty, etc. And another insidious aspect of regulations is that they harm small business disproportionately because, unlike big business, it lacks the financial resources to grapple with them.
It bothers me a little when conservatives call Barack Obama a "socialist." He certainly is an enemy of the free market, and wants politicians and bureaucrats to make the fundamental decisions about the economy. But that does not mean that he wants government ownership of the means of production, which has long been a standard definition of socialism.
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