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August 8, 2012
Was Government to Blame for the Closing of GST Steel?
If, as candidate Obama recently claimed, the government infrastructure gets credit for the results of hard work and personal risk of the entrepreneur, should not that same infrastructure get the blame for business failures such as that of GST Steel? After all, failed businesses used the same roads, bridges, and schools as the successful ones. Though mainstream America rejects both notions, liberal America gives credit to the government for good things, but never blames government for bad things. Business success comes from the benefits bestowed by government; failures are caused by the greed of entrepreneurs such as Bain Capital and Mitt Romney. But there is an old maxim that says if one says A, one must also say B. If Obama gives credit to government for business success, should government not take the blame for business failures? Anyone who has read and understood Thomas Sowell's Basic Economics: A Common Sense Guide to the Economy would see quickly see the...(Read Full Post)