We have another 800-word, sleep-written, reasonable centrist screed from Bobo! Rejoice!
Davy Brooks read another reasonable book from another reasonable political economist (there must be a book of the month club for reasonable people), Ian Bremmer. Bobo fails to mention that Bremmer is on the Faculty at the Hoover Institute (the hard right think tank at Stanford University) “where, at 25, he became the Institution’s youngest ever National Fellow.” In other words, Bremmer is a fellow traveler in the fine Brooksian tradition of wrapping hard right philosophy with a tasty chocolate coating. To make it more palatable.
Anyway, the theme today is that Capitalism is good. Statist Capitalism is bad. It seems to be an attempt to get us all to forgive BP for the gulf oil gusher, because, well, at least it was not Hugo Chavez.
But here is the key line that unfolds the whole origami swan covered in oil:
“Under state capitalism, market enterprises exist to earn money to finance the ruling class.”
Of course Bobo doesn’t mention that this is exactly what goes on under democratic capitalism. And I dare him to deny it.
So here in the US with our exceptional form of Capitalism, the schools are all failing, our infrastructure is crumbling, we have the slowest internet speeds in the developed world, most of our population is without healthcare (today), and we have officially about 10% unemployed and unofficially about 20% and above if you count underemployed. But thank god we give all our mineral rights to the extraction companies.
So, Davy, while the 2Big2Fail banks are all given bailouts (and giving themselves bonuses), Industrial Ag is kept alive with taxpayer subsidies, the Military-Industrial Complex gets as much of our taxpayer money as it wants while we slash benefits for our poorest and most fragile citizens, you want to lecture us that Venezuela, China, et al, who are using their economies to lift all boats are somehow evil?
You want to tell us that BP, who is only beholden to its shareholders, while the government is beholden to it’s citizens is a better model? Good luck with that.