Friday, July 20, 2012

Bain was Boon to the Candidate and the Country

The voters in this country deserve to hear a mature conversation on the nature of capitalism.

A businessman is out to make money, there is nothing wrong with that.

A businessman needs as much room and continuity to risk his wealth without losing his investment. Government has a responsibility to enforce the rule of law, contracts, and punish fraud, but the networking of the spontaneous order does a  much better job of disciplining poor businesses and rewarding good ones.

Part of wealth creation is creative destruction, which in the long term works out of the best for every worker who gets laid off. Most companies will lay off the bottom 10% who are neither performing well nor wish to continue much longer with the company. The only reason why many people stay in jobs that they hate and resist losing these jobs is that looking for another career can be daunting, even scary.

However, these shifts in investment and allocation are essential to a well-running economy.

Wealth creators do create jobs, too -- but their first priority is to make a profit, which then profits the consumer as well as the laborer.

Bain Capital under Romney's tenure took over companies that were losing more than they were taking in. Sometimes a company revives, other companies will thrive, yet there are others which cannot survive, no matter how much money an outside firm allots to the firm, and therefore Bain Capital liquidated the firm.

The voters in this country can appreciate this conversation. Rapid innovations in personal technology have rendered obsolete previous forms of entertainment. Long-playing records gave way to 8-tracks to cassette tapes to CDs to I-pods, and so on. These changes are great for the consumer, but demand a great deal of  flexibility to the rapidly-changing market.

President Obama and his liberal cadre of elites are insulting the American people first by misrepresenting Romney's record at Bain Capital, then dressing up free-market capitalism as a free-for-all of rich, greedy hoarders who despoil the average laborer for a profit. Compassion and heat-felt sympathy does not drive trade, nor does it provide jobs or a higher standard of living. Workers in all starndards of empllyemtne udnerstand that job opportunities require that businessmen can make a profit. Romney should  not be shamed for his leadership at Bain Capital, and neither should the American people be shamed into believing that less government and more private enterprise is a bad thing.

2 comments:

  1. I don't believe anyone supporting Obama disagrees, and that Romney was/is a venture Capitalist is not his crime. Be a greedy Capitalist. Capitalism is built on greed, it can't survive without it. And Romney was, apparently, a good venture Capitalist. Just don't bring that greed to the White House. Prostitution is legal in Vegas. Just 'cause it's legal and serves a purpose doesn't mean I want the best prostitute there running the country. 'Cause it's the wrong perspective, the wrong world-view.

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  2. "Greed" has becoming an uninformed and voided "catch-all" for anyone who makes money. There is nothing wrong with making money, with seeking a profit -- or why go into business in the first place?

    The farmer does not raise livestock for sale out of the goodness of us heart, but because he wants to make a profit.

    A man offers wares for sale because he wants to make a profit, not because he wants to do good for anyone.

    The enlightened self-interest of man, absent any subsidies or assistance from the government, does far more good than all the charity arbitrarily offered in the name of "helping" people.

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