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June 14, 2011

Obama's Jobs Council.
It Works But Not Like You Think. [ArthurK]

President Obama says he's 100% focused these days on creating jobs. So why is he taking advice from a bunch of CEOs whose companies have been shedding jobs for years?

...

It's little wonder, then, that the list of immediate must-do, job-creating ideas the council came up with - and outlined in a Monday op-ed signed by GE's Jeff Immelt and AmEx's Ken Chenault - is so uninspiring.

More money to retrain workers? More tax dollars retrofitting commercial buildings to boost energy efficiency? More government loans passed out by the Small Business Administration?

The writer doesn't get it. This council is doing JUST what Obama (and the council) wants. The routine work of Crony Capitalism. The average guy assumes big business is in love with capitalism and free enterprise. NO! That's what they loved while they were BECOMING a big business. Now that they're on top, they're happy to make deals with the govt. to help them out, keep them on top and make it tougher for smaller companies to knock 'em down a peg.


Some people might think that Crony Capitalism is just capitalism with a touch of corruption. Oh, if it were only that. It's just another flavor of socialism! Central Planning? Check. Redistribution? check. Look at those Job Creation examples in the above quote!


(here's a useful definition of Socialism)



A more complete definition of socialism incorporates two criteria: The first is that socialism entails the public provision of non-public goods. The second is the use of central planning to implement that policy.


It's not like Crony Capitalism is some scourge we've never seen before. It's that the more power the Federal Govt. accumulates, the more opportunity CC has to screw up the economy.


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posted by Open Blogger at 07:04 AM

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