Tag: privilege

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Accountability insider corruption moral hazard national politics & policies porkbarrel politics too much government

Cronyism Pays

CATO, FEE, crony, cronyism, Washington, corruption, elites, lobbyist, politicians, privilege, power

Daniel Mitchell, a senior fellow in fiscal policy at the Cato Institute, is a nice guy. But he’s sort of depressing, too.

Weeks ago, writing for the Foundation for Economic Education (FEE), Mitchell offered that “The Washington, DC Gilded Class Is Thriving.” He even provided a “depressing chart” graphing “median inflation-​adjusted household income for the entire nation and for the District of Columbia.”

There is a graphic divide: while “the nation’s capital used to be somewhat similar to the rest of the nation … over the past 10 years, DC residents have become an economic elite, with a representative household ‘earning’ almost $14,000 more than the national average.”

Dan Mitchell highlights that “the entire region is prospering at the expense of the rest of the nation.” Among the nation’s counties, the top four wealthiest are in suburban Washington, D.C. The nation’s capital region boasts nine of the country’s top 20 richest counties. 

Now Mitchell’s back with another FEE column exclaiming more bad news: “The ROI for Cronyism is Huge.” (ROI is “return on investment.”)

Mitchell cites a study entitled, “All the President’s Friends: Political Access and Firm Value,” conducted by University of Illinois professors Jeffrey R. Brown and Jiekun Huang. “Using novel data on White House visitors from 2009 through 2015,” they explain, “we find that corporate executives’ meetings with key policymakers are associated with positive abnormal stock returns.…”

The authors find a lot evidence showing that “political access is of significant value to corporations.”

None of this should surprise. Cronyism pays, and it sticks close to power, even geographically.

This is Common Sense. I’m Paul Jacob.

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Common Sense responsibility

Fatherlessness

father, father's day, dad, Paul Jacob, role model, illustration, photo

Yesterday was Father’s Day; tomorrow, I’ll attend my father’s funeral.

Ample opportunity to reflect on missing Dad … and dads.

My father was two months shy of 85 years. He lived a long, full life with a loving wife of more than 60 years, six children he adored and who felt likewise about him, 13 grandchildren and eight great-grandchildren.

He started his own small business and achieved his version of the American Dream: to be his own boss.

More than a decade ago, when my pop was fighting through open heart surgery, I wrote in this space that he was, in the words of one of his favorite movies, “the richest man in town.” Sadly, he’s no longer in town.

Except that he still is … in me. And in my kids and their kids.

As an adult, admittedly I haven’t often asked my dad for advice. Why? Because I already know exactly what he would say. I like that. And thankfully that voice remains.

Moons ago, I also acknowledged that I was privileged, but argued “My Privilege Isn’t White.” Instead, my advantages mostly came from growing up in a home with two loving parents.

We Homo sapiens learn by imitating others. Hence the term “role model.”

Nowadays we often hear about poor role models when some spoiled-​brat sports celebrity or narcissistic rock star behaves badly. As a teenager, I had their posters on my wall. But my dad served as my 24/​7 role model.

He still does.

This is Common Sense. I’m Paul Jacob.

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father, father's day, dad, Paul Jacob, role model, illustration, photo

 

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Common Sense national politics & policies Popular responsibility

My Privilege Isn’t White

Privilege

“White privilege” is all the rage … on college campuses. But is there anything substantive to the notion?

As long as some folks view individuals as nothing more than their race, I suppose one can accrue a few advantages simply by being part of the largest racial group.

Moreover, as I explained at length in my Sunday column at Townhall​.com, numerous government policies do indeed hit minorities harder.

The War on Drugs has ravaged the black community much more than the white community, for example. This may result more from the higher poverty rates for minorities than to race alone: Police and prosecutors are more likely to arrest and harshly prosecute the poor for no better reason than that the poor are less able to defend themselves, legally or politically.

That’s wrong. We very much need major reforms of unaccountable police power and abusive prosecutors as well as end the drug war.

But getting back to that trendy “white privilege” — it misses a big source of “unfair” advantage.

I’m white, but my privilege mostly isn’t. Of my many advantages, my skin pigmentation nowhere near tops the list.

Whatever success I’ve enjoyed derives mostly from this: I was reared by two parents who supported me, nurtured me, corrected me and cared about me every day from before I was born to now.

No government program, no amount of money, can best that gift.

The most critical element in the success of black and brown and yellow and peach and white kids is not a politician who cares, but a parent — or, better yet, two — providing a nurturing environment, including tough love.

We could all use more of the “unfair” advantage that parents provide.

This is Common Sense. I’m Paul Jacob.

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