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U.S Banks Post Second-Highest Profit in 23 Years in 2Q 2014

U.S Banks Post Second-Highest Profit in 23 Years in 2Q 2014

( Wall Street Journal ) Banks are lending to companies and individuals at the fast...

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Government cannot be run like a business

Tom Mullen | The Daily Caller:

Despite his big-government record as a governor, Mitt Romney has run for president as a conservative who would allow the free market to work. To bolster his credibility, he points to his success as CEO of Bain Capital. Romney led that company to become one of the largest and most successful private equity investment firms in the nation.

Many of his supporters have been able to look past the fact that he consistently raised taxes and pioneered Obamacare in Massachusetts because of this private sector success. They echo Romney's argument that "the government should be run like a business" and believe that only a proven, successful businessman can do the job.

There are two problems here. The first is that history has already shown that successful businessmen are terrible for the free market whenever they get anywhere near government power. The second is that government cannot be run like a business. Its very nature makes that utterly impossible.

Regarding the first problem, one need only study the 19th century. If you don't like the progressive movement, you can thank the 19th-century Republican Party for creating the conditions that led to its birth.

The entire period is a record of big business getting together with government to intervene in the free market. Always under the pretense of protecting consumers, the true purpose of these interventions was limiting or eliminating competition for connected companies. ... continues...

" The Constitution shall never be construed... to prevent the people of the United States who are peaceable citizens from keeping their own arms. "

—Samuel Adams

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