In the latest Fortune, former Republican congressman and current cable talk show host Joe Scarborough
takes the GOP to task for ignoring free-market principles:
Now is the time for Republicans to stand up to corporations that were once thought to be too big to fail and put them on notice that conservatives will once again be more interested in promoting free markets than big business.
I would have left Congress a rich man if I had been paid every time a lobbyist came into my office claiming the cause of capitalism, when instead he was looking for a competitive break for his corporation. “Congressman,” the plea would begin, “all the good people of my company are looking for is a level playing field.” But that was rarely the case. Lobbyists instead fought for special breaks in the tax code, socialized subsidies for their products, and small changes to regulations that would mean big money for their business.
There is nothing wrong with a corporation taking every opportunity it is given to gain an advantage over competitors. But there is something wrong with a political party that preaches capitalism to single mothers while practicing socialism toward corporations. Now is the time for Republicans to start being consistent, to think anew, and begin saying no.
Scarborough says his successors in Congress would do well to learn some lessons from
Adam Smith. He even cites
P.J. O?Rourke?s take on Smith?s work.
