He basically makes the case that most moderately left Americans have made since the fall of the Soviet Union. And it is actually a pro-crony capitalism case. Yes capitalism can generate wealth, but it must be mitigated by government controls in the name of “fairness.” Best to have planners manipulating markets for “social justice” reasons. We can’t simply let the market do its thing. That’s dangerous.
Balderdash. Markets empower the poor and the middle class. In a free market with free prices there is dynamism. There is opportunity. And this opportunity isn’t determined – at least solely – by one’s ancestry (as it was in the feudalist days of old) but by one’s ability to generate value for one’s fellow man and woman.
Saying this the world has never truly seen capitalism, it has always been corrupted to some extent by the powers that be. Unlike capitalism, Communism has been tried but almost immediately morphed into just another but especially ugly variant of crony capitalism. In this respect, Obama is unfortunately right: his idea of capitalism and Cuba’s idea of Communism have much in common, because both are species of crony capitalism.
In Obama’s mixed economy world, a crony capitalist world, a world we have been immersed in unfortunately since FDR and even a bit before that, the planners are in charge. The “wise” political class will determine what is best ultimately in the economy. Everyday people can’t be trusted to do that. The nomenklatura, the political class, (both in business and government) must have the ultimate say. For society’s own good of course. If the members of the political class get rich in the process, hey, that’s just a bonus.
(From Real Clear Politics)
“So often in the past there has been a division between left and right, between capitalists and communists or socialists, and especially in the Americas, that’s been a big debate,” Obama said during a visit to Argentina Thursday. “Oh, you know, you’re a capitalist Yankee dog, and oh, you know, you’re some crazy communist that’s going to take away everybody’s property.”
“Those are interesting intellectual arguments, but I think for your generation, you should be practical and just choose from what works. You don’t have to worry about whether it really fits into socialist theory or capitalist theory. You should just decide what works,” he added. “And I said this to President Castro in Cuba.”
The question is what “works” for whom?
Consider that Obama “did the wave” at a baseball game with Raul Castro, a mass murderer.