Kudlow's Flawed Ideas
(2008 Feb blog post)
'Free Enterprise' is NOT a Cure-All
Larry Kudlow repeatedly drills into the audience of his CNBC shows on the U.S. economy --- 'The Kudlow Report' and 'Kudlow and Cramer' --- (circa 2007-2008, and beyond) the following quote.
"Free market capitalism is the best path to prosperity."
Kudlow repeatedly drowns out any of his guests who would suggest that there needs to be some umpires and referees in the U.S. business scene.
It is well recognized in every sport --- baseball, football, basketball, soccer, rugby, tennis, lacrosse, field hockey, boxing, jiu jitsu, karate, sumo wrestling, ultimate fighting, etc. etc. --- that there need to be referees/umpires/line-callers and the like to make sure that the games/competitions do not degenerate into an ugly mess.
Apparently Kudlow thinks the same does not apply to the business world. Somehow he thinks that business persons can police themselves and have impeccable ethics.
I actually heard him say once on one of his shows that he believes in business ethics. BUT ... he apparently believes that the business world will observe ethical behavior with no oversight.
BUZZZZZZ ... WRONG! We have only to look in the newpapers each day to see repeated examples that demonstrate that business people are going 'out of bounds' all the time. Examples:
The business community needs oversight by line-callers, umpires, and referees --- just like all the sports do.
'Free enterprise requires oversight --- because of
A more truthful Kudlow's creed would be
"Free market capitalism is the best path to CEO prosperity."
A more forefathers-worthy saying would be something like
"Competition, with responsibility shown to the general citizenry,
The latter is more like what our founding fathers (and mothers?) had in mind.
Without competition and oversight, 'free market capitalism' results in a race to the bottom, achieving the opposite of a strong-across-the-board society and a civil-to-each-other society.
If Kudlow's idea of 'free enterprise' were allowed to proceed unbridled, we would find the Grand Canyon and other national parks full of billboards and mining companies.
There are other things in life to be valued --- just as much as 'free enterprise' and 'free market capitalism'.
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Page was posted 2008 Feb.