Posts Tagged Mitt Romney
The Treasury Department is reportedly feeling pressure from General Motors to “sell the government’s entire stake in the auto maker,” a move that, at the moment, would result in an estimated $15 billion loss for U.S. taxpayers. But such are the realities of dysfunctional private-public-private back-rubbery:
GM executives have grown increasingly frustrated with that ownership, and the stigma of being known as “Government Motors.” Executives have said the U.S.’s shadow is a drag on its reputation and hurts the company’s ability to recruit talent because of pay restrictions.
Last week, I explored these tensions over at Values & Capitalism, critiquing the government’s malinvestment in GM as well as the Democratic National Convention’s overt attempt to romanticize such failures:
“GM is alive, and Osama bin Laden is dead,” said President Obama in his recent speech at the DNC. The crowd responded with resounding cheers, energetically waving signs bearing the same slogan. Now, just a week later, bumper stickers are already primed for your Prius.
The problem is: Osama bin Laden is actually dead, and GM has resurrected into a zombie of sorts, fumbling and stumbling about under the control of autocrats—licking its lips for another round of taxpayer flesh.
Yet of all of the tall tales of glorious GM resurrection, the Obama’s administration’s underlying attitudes about human potential are made most clear by none other than Vice President Joe Biden, whose DNC speech rails against the “Bain way” (i.e. the profitable way), arguing that “the Bain way may bring your firm the highest profits, but it is not the way to lead our country from the highest office.”
And there she blows:
Profitability, we are told, should no longer be a priority of the American people. Further, we are told, it shouldn’t be a priority of the United States government. And this is what garners cheers from the ruling party of our nation.
We now live in a country where government-appointed know-it-alls waste tens of billions of taxpayer dollars on failing companies, only to then be hailed as “defenders of industry.” We now live in an era in which viewing government in terms of “balance sheets and write offs” is demonized; in which waste and inefficiency are downplayed; and in which those who pursue economic growth in a traditional sense are viewed as obstacles to human flourishing.
The truth, of course, is that “the Bain way” secures higher profits by discouraging wasteful behavior and drawing on everything that’s good in humanity. It is this—value creation and the reward of earned success—that makes the market much more than a market, empowering us to attain the American Dream.
The market can only be a source for good if it remains a free market: an arena where contributions come before rewards, not after. And the moment Americans forget this—the moment we join this overt celebration of government-subsidized failure—is the moment we start down the road that invariably makes America like every other entitled, vacuous Western democracy, rather than the exceptional nation we’ve always been.
If this is the contrast the Democratic party wishes to draw—a battle between Artificializer Obama vs. Realistic Romney—so be it. Americans will know what they’re buying, and if the pollsters’ current predictions hold true, we’ll get all the skeletons of “industry” and “economic progress” that we ask for.
To read the full post, click here.
I have been enjoying Booker T. Washington’s biography, Up from Slavery, and this week at Values & Capitalism, I unpack some of his ideas about the dignity of work, contemplating their application among today’s youth.
I start off by pointing to a moment that Washington viewed as crucial in his mobility from former slave to college president. After finally saving up enough money to travel to the Hampton Institute, Washington was given an unusual entry exam.
As Washington himself explained it:
After some hours had passed, the head teacher said to me: “The adjoining recitation-room needs sweeping. Take the broom and sweep it.”
It occurred to me at once that here was my chance. Never did I receive an order with more delight. I knew that I could sweep, for Mrs. Ruffner had thoroughly taught me how to do that when I lived with her.
I swept the recitation-room three times. Then I got a dusting-cloth and I dusted it four times…When I was through, I reported to the head teacher. She was a “Yankee” woman who knew just where to look for dirt. She went into the room and inspected the floor and closets; then she took her handkerchief and rubbed it on the woodwork about the walls, and over the table and benches. When she was unable to find one bit of dirt on the floor, or a particle of dust on any of the furniture, she quietly remarked, “I guess you will do to enter this institution.”
I was one of the happiest souls on earth. The sweeping of that room was my college examination, and never did any youth pass an examination for entrance into Harvard or Yale that gave him more genuine satisfaction. I have passed several examinations since then, but I have always felt that this was the best one I ever passed.
From there, I move to discuss Washington’s later experience in founding his own school, during which he required his students to build their campus with their own hands. His intent: “the students themselves would be taught to see not only utility in labour, but beauty and dignity; would be taught, in fact, how to lift labour up from mere drudgery and toil, and would learn to love work for its own sake.”
Here’s the modern-day takeaway, from my piece:
There is some kind of lesson here, some valuable takeaway for an entitled, lackadaisical society that has grown obsessed with a quick and artificial process of growth, one which is completely unsustainable, not to mention wholly debilitating at a deeper spiritual and cultural level.
There is also a lesson here for our leaders, one of whom recently promised to spur such artificiality faster and further, promoting things like “free” education while ignoring the “drudgery” and “toil” that Washington recognized as necessary for any kind of authentic success and genuine Read the rest of this entry »
Of all the warts Mitt Romney boasts on his big smelly toe, Newt Gingrich and others have decided to attack the one thing Romney has going for him: his business-leader experience in the private sector. (go here for the full scoop)
This week at Values & Capitalism, I offer my critique of the Gingrich(/Obama) view:
Note to Newt: I know we’d all like a 100% success rate, but high-risk investment doesn’t always pay off, and when it doesn’t, bad things happen. Businesses close, people lose their jobs and human suffering abounds. Oh yeah, and another thing: it’s not great for investment firms either.
When these companies failed under Romney’s watch, I doubt that Jolly Fat-Cat Mitt was grinning in his Doctor Claw Chair while stroking a snickering kitty. Anyone who understands anything about investment firms should understand that bad investments are, well, bad.
There’s plenty of basic economic idiocy here, not to mention nostrils-full of that all-too-familiar “pre-conversion” Gingrich stench (does “moldy baloney” capture it?). But throughout all the confused prattle—e.g. Newt’s forthcoming wanna-be Michael Moore project—I find myself haunted by a single, disturbing reality. Some people actually swallow this stuff.
The deeper issue in Gingrich’s thinking — other than his basic goal of political revenge, of course — is his apparent disdain for creative destruction and his implicit worship of the artificial.
More from my piece:
Most of [this] seems to involve an embrace of the artificial—a belief that prosperity can and should be manufactured from the top down and that successful entrepreneurship, innovation, and jobs(!!!!!!!—those are for you, Joe Biden) demand nothing more than Sugar Daddy U.S.A.’s material blessing.
Implicit in such an orientation is a belief that risk can somehow be avoided or subverted—that turning companies around is always possible, that the solution (if there is one) is always accessible/know-able, and that investments will always produce a profit (when all else fails, there’s subsidies…duh!). All you need is a warm and toasty heart and a propensity to use other people’s stuff to Read the rest of this entry »
The presidential election is nearly a year away, and the race to secure the GOP nomination is already in full swing. Yet despite a rather hum-drum assortment of candidates, media pundits everywhere are bewildered to once again behold that most quizzical of creatures: the conservative Christian.
Aside from the now-infamous “submission” question lobbed at Michele Bachmann during a recent debate, Ryan Lizza’s hatchet job on the Congresswoman serves as Exhibit A. Using a mix of hyperbole, misrepresentation, and pretentious grandstanding, Lizza drags Bachmann’s supposed politico-theological skeletons out of the closet in an attempt to “inform” the rest of us of this perplexing woman and her confounding beliefs.
The result? Another fault-ridden portrayal of the “extremists” who just so happen to make up about half of the country (anti-gay marriage, anti-evolution, anti-”science,” yadda yadda yadda). As usual, the folks who are supposed to be schooling us on what politicians really believe (“keepin ‘em honest!”) display an uncanny knack for being completely oblivious to Christian culture and digging only where they want and only when they’re in the mood to play “pretend.” (see Joe Carter’s full-throttle takedown of the piece here).
For Bill Keller, editor of The New York Times, Lizza’s piece is a different kind of Exhibit A. “Enlightening,” he calls it, for its illumination of Bachmann’s batty side, namely, her “spiritual and political mentors” who believe “homosexuality is an abomination” (gasp!) and who preach “the literal ‘inerrancy’ of the Bible” (as opposed to the inerrancy of An Inconvenient Truth).
“This year’s Republican primary season offers us an important opportunity to confront our scruples about the privacy of faith in public life — and to get over them,” says Keller. “We have an unusually large number of candidates, including putative front-runners, who belong to churches that are mysterious or suspect to many Americans [i.e. the editorial staff of The New York Times].”
We must press these candidates in the areas where they might go too far, Keller says. It’s fine and dandy if such folks believe in silly things like transubstantiation (a doctrine Keller calls “baggage”…seriously), but when they believe in the authority of the Bible and the supremacy of God in public life, ya’ll better hold on to your trousers, cause it’s time to defend our democracy:
…I do want to know if a candidate places fealty to the Bible, the Book of Mormon…or some other authority higher than the Constitution and laws of this country. It matters to me whether a president respects serious science and verifiable history — in short, belongs to what an official in a previous administration once scornfully described as “the reality-based community.” I do care if religious doctrine becomes an excuse to exclude my fellow citizens from the rights and protections our country promises. And I care a lot if a candidate is going to be a Trojan horse for a sect that believes it has divine instructions on how we should be governed.
Wait, “divine instructions” as in, like, divine instructions, or divine instructions as in a copy of the IPCC report?
(“Prophet Gore…Paging Prophet Gore…”)
Where was I? Oh yeah: those kooky, Bible-believing weirdos.
To help us unlock the “mysteries” of such peculiar people, Keller provides Read the rest of this entry »