Some Future: Obama Advisor Preaches Tariffs, Wage Controls, Suppression of Secret Ballot

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Mercantilism [emphasis added]: An economic doctrine that flourished in Europe from the sixteenth to the eighteenth centuries. Mercantilists held that a nation's wealth consisted primarily in the amount of gold and silver in its treasury. Accordingly, mercantilist governments imposed extensive restrictions on their economies to ensure a surplus of exports over imports. In the eighteenth century, mercantilism was challenged by the doctrine of laissez-faire.

When Barack Obama talks—and talks—about the future, does he really mean "back to the future"?  You have to wonder after reading the column by one of his economic advisors in today's LA Times.  In  Renewing America's 'contract with the middle class, Leo Hindery Jr. explicitly calls for a return to mercantilism, the discredited theory of economics popular during the 17th and 18th centuries.  Hindery [emphasis added]:

It is imperative -- way past time, in fact -- for America to be as mercantilist as are our trading partners.

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Under the guise of protecting American workers, Hindery even works in a call for destroying their right to a secret ballot in union elections [emphasis added]:

We need to modernize labor laws to give workers more of a voice. To help the 60 million workers who research says would join a union if they could, Congress must pass the proposed Employee Free Choice Act to let workers organize when a majority of them sign union cards.

You "give workers more of a voice" by letting the Johnny Sacs of the union world stand over their shoulder when workers express that voice inside the ballot booth? That's double-speak that would make the commissars at Orwell's Ministry of Truth blush.

But back to Hindery's call for mercantilism, which largely translates to the advocacy of tariffs.  Since tariffs—which of course increase the price Americans pay for foreign goods—are broadly unpopular, Hindery disguises his plan in more nebulous talk:

We must forcefully counter the illegal subsidies, the manipulated currency exchange rates and the unfair labor and environmental practices that some of them are employing to strike at our economy.

Translation: tariffs. Hindery even manages to throw in a central-planning wage control proposal with a populist edge, calling for limits on "excessive" executive compensation.  John "Two Americas" Edwards would be proud.

Tariffs, suppression of basic democratic freedoms, and central planning.  Is that what we have to hope for if Barack Obama gets to govern our future?

—Mark Finkelstein is a NewsBusters contributing editor and host of Right Angle. Contact him at mark@gunhill.net.


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Oh crap... two months of

Oh crap... two months of sarc lectures on the Gold Standard to follow.

Vote 4 change. Vote 4 anything. See Jack & Mr Shy's first campaign ad for the ONLY viable 3rd party candidate.

My thoughts exactly right

My thoughts exactly right after I read the words "gold and silver"!

Civilization IV

  Doesn't play Civ4 much does he?

The stagnation of wealth

The mercantilist fallacy is that there is a fixed amount of wealth, so the trick is to get a better balance of it than the next guy. That idea went out with Adam Smith.

The same "fixed" psychology, however, is at the heart of liberal prejudice. For whites to prosper, it must mean that minorities are being exploited. For minorities to rise, it must mean that whites must be curbed and restricted. For the poor to improve, the rich must be restrained -- thus taxes and regulation.

That's why egalitarianism, which Obama favors, has no place in economic theory. It prevents universal economic improvement. Economic progress almost always starts with the initiative of individuals squeezing through doors that had been closed. But if the entire society must stand shoulder to shoulder, forming an equal and broad line of equality ... we can't fit through the doors. The trick in captialism is not to push everyone through the door in one shot; it's to send small groups through, one after another, until they weaken the obstacles and break down the doors.

Fixed value as well as wealth

"The mercantilist fallacy is that there is a fixed amount of wealth, so the trick is to get a better balance of it than the next guy."

Another of its fallacies is the belief that the value of something never changes. A potato will have the same value no matter how many potatoes are available; its value never increases or decreases in direct proportion to its availability. That fixed value belief is an absurdity when compared to reality. You don’t see carnivores fighting over plentiful food, do you? No, you only see them fighting with each other when a food source is limited. The value of any available food increases for each hungry animal to the point where they are willing to risk injury and death just to get access to the remaining food.

Obama: My job is above my pay grade

You don't need a union to orginise

"let workers organize when a majority of them sign union cards."

I don't know how many blue-collar jobs people like Hindery, or Obama for that matter, have held in their lives, but I can personally attest to the fact that "workers" do not NEED a union in order to organize. Every blue-collar job I every held had workers who, on their own and without the “help” of the unions, organized themselves in order to improve working condition and/or pay and benefits. I've yet to see a single "organized" non-union worker lose their job because of the unity and planning they executed in order to confront management and affect positive change.

Obama: My job is above my pay grade

   Much of union dues is

  A susbstancial part of union dues is merely a tax by and for the democrat party on workers wages.  The corruption of Big Labor with organized crime and the democrat party is astounding.

Getting Carried Away

Hindery is, of course, speaking for the entire Democratic party, which has been pushing for this kind of thing since the era of McGovern (1972.) They are giddy with what they think America is coming to, and they are in for a big shock. Even if they run the table in November, Americans will catch on with their insane legislation and, guess what?, there'll be another national election in '06. Remember Clinton and the gang in '93? They got pasted in '94 once people saw the truth about them.

America will always be a free country, and the blood of the British from the Revolutionary war will always remain fresh, a testament to that demand for freedom.

A Tax Hike On One, Is A Tax Hike On All

When Kennedy made the statement that "a rising tide lifts all boats" he wasnt concerned about who exactly was driving what boat and where, but rather that each boat itself was free, despite its relative size, to navigate its own course and exercise its own free will.  Even if it meant both the rich and the poor increase in economic prosperity.

The buoyancy exception

"The substantive aspect of the statement is that economic growth which raises the GDP of the entire economy will also raise the incomes of all of the individuals within the economy. However, not all industries track the overall economy, and the creative destruction process of capitalism requires inefficient industries to yield to more efficient industries. For the aphorism to be strictly true, one would never expect to see a 'going out of business' sign during a rising economy."

from Wiki

Marxism

TotalKaosDave

Marxism will work comrades...now that capitalism has created enough wealth to redistribute...

Not just for the Left anymore

This isn't exclusive to the Left, sadly.  Some conservatives here on NB would love nothing more than to see the United States hermetically sealed off in every single way imaginable from the Evil Outside World...especially economically speaking. 

Whoever casts a vote for Obama-Biden is nothing more than a common thief.  Whoever fails to vote against them is nothing more than a moral coward.