I Want a President Who 'Gets' the Economy
Christopher Chantrill / American Thinker
Oh well, another day, another dollar, as the Obama economy continues to disappoint with a 0.2 percent growth rate for GDP in the first quarter for 2015.
I’m sure that President Obama and his administration are just as frustrated as you and me. But the truth is that liberals like Barack Obama just don’t “get” the modern exchange economy. You could see this in their response to the Crash of 2008. Step One: Press the Keynesian “stimulus” button. Step Two: Back to the important stuff: health care, blaming Bush and greedy bankers, and green energy.
It’s understandable. Politicians deal in power; so time spent in tending to the economy, to them, is time taken from the all-important power project. But politicians that think this way are deluded, because the power of the modern national politician is grounded in the health of the national economy. If a politician want to strut upon the world stage, first of all he needs a world-class national economy.
According to Michael Mann in The Sources of Social Power the national economy became really important around the time of Britain’s Henry VIII. The problem was the expense of the standing army that a king needed to fend off rival powers. A monarch could no longer pay for his army out of his royal estates; he needed more money, lots more money.
Fortunately help was at hand. The big-time merchants, beginning to spread their wings in international trade, wanted the protection that a strong state could provide for their ships and cargoes. They agreed to be taxed to support the standing-army state and they also showed the monarch how their credit could finance his all-important foreign wars.
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