The single best post about Bain and economic issues maybe ever
I was going to call this "Today's Must Read," but it may actually be the season's must-read: Cole's new front-pager at Balloon Juice talks about what precisely it is that Bain Capital does to make all that money, why this is not the "creative destruction" so beloved of the theory of capitalism and efficient markets, and why and how our current ideologies and legal structures enable and encourage these practices, to the great detriment of our well-being and overall wealth.
I've been making a pest of myself at social gatherings by waving my arms around and trying to explain this to people for more years than I like to think about now, so it's possible that I'm overestimating the simple lucidity and force of Mr. Finel's explanation: if there's anything in there that wouldn't be clear to someone who hadn't spent a lot of time thinking about these issues, I'm not in a position to notice it. But I don't think I'm overselling this one. I suspect it really is that good.
If you're an American voter, go and read it. Then consider forwarding it to anyone you know who thinks he or she ought to vote for Romney. And when they complain about biased analysis from hippie lefty commie socialists who hate America, you can tell them that actually, Bernard Finel is a professor at the National War College, with a Reagan Youth background. As the conservative pundits have been known to say, Heh. Indeedy.
This entry was crossposted from Dreamwidth. Feel free to comment here or there, with openID or whatever works for you.
I've been making a pest of myself at social gatherings by waving my arms around and trying to explain this to people for more years than I like to think about now, so it's possible that I'm overestimating the simple lucidity and force of Mr. Finel's explanation: if there's anything in there that wouldn't be clear to someone who hadn't spent a lot of time thinking about these issues, I'm not in a position to notice it. But I don't think I'm overselling this one. I suspect it really is that good.
If you're an American voter, go and read it. Then consider forwarding it to anyone you know who thinks he or she ought to vote for Romney. And when they complain about biased analysis from hippie lefty commie socialists who hate America, you can tell them that actually, Bernard Finel is a professor at the National War College, with a Reagan Youth background. As the conservative pundits have been known to say, Heh. Indeedy.
This entry was crossposted from Dreamwidth. Feel free to comment here or there, with openID or whatever works for you.