Say Anything Blog

From The Economist, taking Barack Obama, and also Hillary Clinton, to task for their silly, radical economic populism:

FOR a man who has placed “hope” at the centre of his campaign, Barack Obama can sound pretty darned depressing. As the battle for the Democratic nomination reaches a climax in Texas and Ohio, the front-runner’s speeches have begun to paint a world in which laid-off parents compete with their children for minimum-wage jobs while corporate fat-cats mis-sell dodgy mortgages and ship jobs off to Mexico…

There is no denying that for some middle-class Americans, the past few years have indeed been a struggle. What is missing from Mr Obama’s speeches is any hint that this is not the whole story: that globalisation brings down prices and increases consumer choice; that unemployment is low by historical standards; that American companies are still the world’s most dynamic and creative; and that Americans still, on the whole, live lives of astonishing affluence…

The sad thing is that one might reasonably have expected better from Mr Obama. He wants to improve America’s international reputation yet campaigns against NAFTA. He trumpets “the audacity of hope” yet proposes more government intervention. He might have chosen to use his silver tongue to address America’s problems in imaginative ways—for example, by making the case for reforming the distorting tax code. Instead, he wants to throw money at social problems and slap more taxes on the rich, and he is using his oratorical powers to prey on people’s fears.

Mr Obama advertises himself as something fresh, hopeful and new. But on economic matters at least he, like Mrs Clinton, has begun to look a rather ordinary old-style Democrat.

Obama may have some “sound, academic economists advising him” but I’m beginning to sense that they are on staff more for the cover they provide than for the advice they provide.  On his own, Barack Obama is far more radical in his economic… and foreign policy… thinking than anything his “sound” advisors would suggest.