Politicians seeking the highest offices in Washington, and particularly the Presidency, do not have to take a test to see if they understand basic economics. It shows, in their comments and action.
Many are simply economic illiterates. Whether they speak off-the-cuff, or from a teleprompter. They may get words from some staffer who is literate on the subject. But when comments on business are extemporaneous, the gaffs are more evident.
It would help if more politicians came with business and entrepreneurial experience. They would not generally lean leftward. Being a lawyer, as many are, is of little help, especially if that background involved fighting business and industry.
Politicians on the job exaggerate as if they are campaigning for office whenever they orate. The problem is that they must get serious once in office. Words can have consequences, particularly because of psychological effects.
Politicians can profess free market economics but they cannot have policies that spell unfettered socialism. It might appeal to groups that helped get them nominated and elected, but it often won’t keep them in office. And it will have created immense damage while in office.
Socialism has never worked where tried. Except in the classrooms of colleges, even the fancy ivy-covered types.
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