Saturday, August 8, 2015
On the Fact that Political Hacks Such as Teddy Roosevelt, Herbert Hoover, and Franklin Roosevelt Actually Felt that They Could Manipulate Prices and that There Wouldn't Be Consequences
I think that the esteemed historian, Albro Martin, probably said it best - "...he (in this instance, TR - a man who himself had failed in business) had the exhilarating notion that men who lacked the experience, the economic power, and the enlightened self-interest of the leaders of big business could nevertheless establish the patterns by which great aggregates of property fitted into the nation's economy."......Seriously, though, how's that for a surgical take-down?
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You always get problems when someone with total ignorance of the deals that citizens choose to make with each other... along with the arrogance of power.... meddles and sets values with numbers from thin air, without any regard to any reality.
It's related to Bernie Sanders campaigning on the idea of forcing companies to fire anyone whose skills earn less than a $15 an hour wage. He's not using those words, but that is his proud policy.
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