Right wing media now acknowledging Biden's America and economy is crushing Trumps!
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cawacko
Well-known member
This is just a sad argument all around. You have those arguing for protectionism and tariffs (Trump) and you have those arguing for greater government control of industrial policy which is essentially state run capitalism (Biden). Neither of those approaches make for a more dynamic or truly growing economy.
There are understandable arguments regarding concerns of national security when it comes to free trade and China. But that can be dealt with while still adhering to the principles of free trade instead of the path we're going. Then we have 'stakeholder capitalism' in the forms of ESG and DE&I which sound good in theory but ultimately contribute to less dynamism.
There are understandable arguments regarding concerns of national security when it comes to free trade and China. But that can be dealt with while still adhering to the principles of free trade instead of the path we're going. Then we have 'stakeholder capitalism' in the forms of ESG and DE&I which sound good in theory but ultimately contribute to less dynamism.
Joe Capitalist
Racism is a disease
State run capitalism? That's an extremist view but I don't expect you to admit that. Sounds like you have a deep seated vendetta against Biden because your response is very irrational and partisan.
Still, the OPs point was Biden's current economic record and to say it's a 'sad argument all around' is being disingenuous at the least.
cawacko
Well-known member
There’s nothing partisan about my statement. I’m speaking about my economic beliefs, not the individual actors. State run capitalism is more something we see in places like China where the gov’t has an ownership entity in the businesses but there’s still a feel of it in how we run our industrial policy in the states.
It’s about (our) gov’t supporting certain industries and directing resources that way. On one hand I recognize we’ll never have a truly free market. But history is replete with the failure of centralized planning and gov’t controlled industrial policy.
I think history bears out my position as the opposite of extreme. But people are free to disagree.
Tinkerpeach
Member
She was a liberal guest host, she is not part of Fox.
Joe Capitalist
Racism is a disease
I wholeheartedly disagree on many of your points and still believe you have an extremist view on Biden and the economy.
Give me some of your examples of Biden's 'state run capitalism' policies.
cawacko
Well-known member
If I were simply going on a partisan rant why would I call out Trump and his (failed) tariffs and trade war? I know in certain circles, even among some on the right, capitalism and free trade is now frowned upon. We could go into a whole other discussion about how monetary policy and other fiscal policy choices have distorted markets and driven people to these beliefs but that’s a separate discussion.
Regarding Biden specifically (although I would say the same thing no matter who was doing this, it’s the policy not the person) I don’t support the govt saying we are going to invest billions upon billions into the chips act, clean energy etc.
I understand why that sounds appealing on the surface. I’ve read the arguments. But history shows governments cannot direct the economy better than markets.
Look at the continued slow growth over the past two decades in the U.S. More government “investment” in the economy is not the way to address it and turn it around.