Mr. Schock -- a Theory of Wealth
They simultaneously believe in two fallacies. One our current system is not simply a modern version of our original constitutional government and the framers of the constitution were of one mind. In life, theory often conflicts with practice. Our first Congresses in the 1790's, actually wearing the 18th century garb because they were founding fathers, voted to place insurance mandates for sailors on the private sector. The Tea Party, often state all our founders were Evangelical Christians, so should we believe they know anything of economic theories. Yet there they are, shouting down with John Maynard up with Freidrich. What about Keynes and Hayek? Most of the time the chatters don't understand either, they believe one is big government, the other no government. Hayek was offered a position with a conservative DC think tank. He wrote worried that he would lose his government provided health care if he took the position in the United States. Hayek said, “Both sides talk about my book. Nobody really read it or studied it.” When the financial crisis was upon us in 2008 everyone in DC was a Keynesian. Mitt Romney -- National Review Dec. 19, 2008
"The Fed should continue to expand the money supply. And, it should confirm that it will not tolerate deflation — the pain of inflation pales in comparison.
That being said, a stimulus plan is needed without further delay, and there are some things that Republicans should insist on."
Until January 20, 2009, after Obama's inauguration destroying Obama became the priority.
A new economy is evolving, believing we are in a contest between theories nearly a century old does not inform our debate. I submit we think we are in different warring clans, but the Persians are coming (history on wiki if you missed the reference).
A Golden Age of Leaders -- as in how much gold goes into my campaign?
Our founding fathers did study the theorists of the 17th and 18th Centuries in addition to the classical sources. Study in the real sense of determining meaning and formulating theories. We do not have a class of political leaders seriously studying political and economic theories, seeking academic expertise, debating ideas, and arriving at the best approach to be applied to the United States. We have a class of power seekers trying to attain and maintain status, influence, and riches. So I would ask you to dismiss all labels when we discuss the wealth of our nation. The labels are only used to diminish a policy discussion without resorting to logic or evidence.
Broadly held American beliefs unstated by any theory, but simply the expectation of how things ought to be, will coalesce into what I call American Pragmatism. The United States is dotted with historical markers of failed social experiments. Examples in Illinois range from Bishop Hill to Nauvoo to Pullman, all failed experiments of societal organization of one kind or another. In America I believe we have evolved beyond economic or social theories of organization. Unfortunately, our political system has not evolved, currently corporate interests hold our government hostage. This is widely perceived, but Americans do not want a labor unionists view of government, either. We do not want corrupt coporatocracy, or a workers paradise.
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