Obamateurism of the Day
posted at 8:05 am on May 3, 2010 by Ed Morrissey
By popular demand, I’m including this off-the-cuff remark in the OOTD canon, especially since a few commenters expressed disappointment that it didn’t get included in yesterday’s poll. Besides, this one’s pretty rich — and one can never be too rich, regardless of what some people say:
We’re not, we’re not trying to push financial reform because we begrudge success that’s fairly earned. I mean, I do think at a certain point you’ve made enough money. But, you know, part of the American way is, you know, you can just keep on making it if you’re providing a good product or providing good service. We don’t want people to stop, ah, fulfilling the core responsibilities of the financial system to help grow our economy.
Last week, I focused on the off-the-cuff nature of the remark and its revelatory nature. It also demonstrates a rather constricted view of economics. It’s zero-sum thinking, where one person’s success necessarily comes at the expense of another. A free market creates wealth through innovative use of resources and the efficiency of competition. While there are winners and losers in a free market, those who fail can learn from their errors and succeed later.
In fact, in a free market, the only entity that can get too rich is the government that is supposed to regulate it as a disinterested referee — and that’s the one that Barack Obama’s agenda seems to favor the most.
Got an Obamateurism of the Day? If you see a foul-up by Barack Obama, e-mail it to me at [email protected] with the quote and the link to the Obamateurism. I’ll post the best Obamateurisms on a daily basis, depending on how many I receive. Include a link to your blog, and I’ll give some link love as well. And unlike Slate, I promise to end the feature when Barack Obama leaves office.
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