Economic Muddle

Each week when I get the Economist, I usually go straight to the Lexington column. This week it addresses the “war over class war.” The final paragraph is a keeper:

Mr Romney is fond of saying that Mr Obama has no idea how the economy works and how jobs are created. The way the Obama campaign talks about Bain Capital suggests that his criticism is correct. Mr Obama, as noted above, likes to insinuate that there is a conflict between pursuing profits and creating jobs. In the long run, however, in a competitive economy, that is nonsense. Only profitable firms can sustain any jobs, and the more profitable they are, the more money they have to invest in new ventures with new workers. Mr Obama is guilty not of rhetorical excess but of economic muddle. That is far more worrying.

One thought on “Economic Muddle

  1. The problem is not Mr.Obama but the fools and buffoons that would vote to put such a person into office. The people that supported Obama,as are most people supporting collectivist demagogues,is that they latch onto “class envy” as a way of getting even with the people that work harder and or smarter then they do. These voters are jealous little people with no ambition or intelligence. They hate anyone that rises economically above their “station.” With that said,I don’t think that the Republicans are much better. In the end,the American people get the political leadership they deserve.

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