Thursday, May 21, 2009

The New New Deal


By Charles Kesler | May 21, 2009 | Real Clear Politics
If you believe President Barack Obama, he's working overtime to save American capitalism.

"I strongly believe in a free-market system," he told reporters in London, "and...in America, at least, people don't resent the rich; they want to be rich. And that's good." The market, he declared, "is the most effective mechanism for creating wealth...that history has ever known."

Unfortunately, it's no slouch at destroying wealth, either. Sometimes "it goes off the rail," he noted, and without some "thoughtful frameworks to channel the creative energy of the market...it can end up in a very bad place." Abroad and at home, Obama's pleas for "commonsense" economic reform sound almost sensible, especially in light of his reassuring statements that he is no friend of bigger government and doesn't support politicians' "micromanaging" business.
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