President Obama was sworn in for a second term on Sunday, re-enacting the rite on Monday so he could leverage the attention of a traditional news day.
Obama makes a good speech. He intones “We, the People,” with a pause in the middle: “We . . . the People.” He tells us to seize the moment.
But I’m not at all sure he’s seizing — or sizing up — the facts. He says, “we, the people, understand that our country cannot succeed when a shrinking few do very well and a growing many barely make it.” As I understand it, those who do very well have increased in number. Many folks have moved out of the middle-income earning category into the upper regions. We’ve more millionaires now than ever — even adjusted for inflation. Their ranks aren’t exactly shrinking.
Many of us are struggling, though. And we struggle under the watch of a general “progressive” mindset. You can’t blame income trends on the “free market.” Though some sectors of the economy are pretty free — the important new technology sector, for instance, and much of consumer retail — the medical and financial sectors are heavily regulated and managed by government, and the housing market has been transformed by multiple government policy initiatives. And here, with these three institutions, is where we’ve taken the biggest hits.
And where some of the worst effects on the poorer amongst us can be felt — and where the biggest pro-rich policies can be seen. Think bailouts, for starters.
The Progressives long ago seized the epoch. The necessity of the moment is to seize it back from them. Their policies of government intrusion and management have rigged the game to get us where we are now.
This is Common Sense. I’m Paul Jacob.
It is forbidden to kill; therefore all murderers are punished unless they kill in large numbers and to the sound of trumpets.
I’ve not seen one of these bills up close (
All the social virtues are only the habitude of actions useful to society and to the individual who practices them; That they refer to the physical object of man’s preservation; That nature having implanted in us the want of that preservation, has made a law to us of all its consequences, and a crime of everything that deviates from it; That we carry in us the seed of every virtue, and of every perfection; That it only requires to be developed; That we are only happy inasmuch as we observe the rules established by nature for the end of our preservation; And that all wisdom, all perfection, all law, all virtue, all philosophy, consist in the practice of these axioms founded on our own organization:
Vices are those acts by which a man harms himself or his property. Crimes are those acts by which one man harms the person or property of another. Vices are simply the errors which a man makes in his search after his own happiness. Unlike crimes, they imply no malice toward others, and no interference with their persons or property. In vices, the very essence of crime—that is, the design to injure the person or property of another—is wanting. It is a maxim of the law that there can be no crime without criminal intent; that is, without the intent to invade the person or property of another. But no one ever practices a vice with any such criminal intent. He practices his vice for his own happiness solely, and not from any malice toward others. Unless this clear distinction between vices and crimes be made and recognized by the laws, there can be on earth no such thing as individual right, liberty, or property, and the corresponding coequal rights of another man to the control of his own person and property.
A famous theorem in economics states that a competitive enterprise economy will produce the largest possible income from a given stock of resources. No real economy meets the exact conditions of the theorem, and all real economies will fall short of the ideal economy—a difference called “market failure.” In my view, however, the degree of “market failure” for the American economy is much smaller than the “political failure” arising from the imperfections of economic policies found in real political systems. The merits of laissez-faire rest less on its famous theoretical foundations than on its advantages over the actual performance of rival forms of economic organization.