I don’t know which passage to laugh at more:
For the past 15 years, progressive free-market politicians have offered an appealing mantra …
After reading a new oxymoron such as “progressive free-market politicians,” I knew I didn’t need to read on for any serious discussion of capitalism. The usual drivel about how the author supports capitalism, but every fair person understands that it’s not perfect and needs a little help, is sure to follow. I’ve heard it before and I know it’s still code for more government intrusion. It’s never possible that government interference in capitalism is causing the problems. Never.
The other laughable part is that supposedly logical conclusion.
Historically, voters turn away from conservative free-market politicians after they conclude that capitalism needs help in living up to its commitment to create widely shared abundance. After World War II, voters in rich countries entered a social democratic bargain in which capitalism became the bedrock of the economy but was tempered by a large public sector and a unionized industrial sector that provided social insurance, education, pensions and health care.
Capitalism has a commitment to create “widely shared abundance”, which conservative free-market politicians ignore. Setting aside government interference as a cause, if you don’t get some of that guarantee of widely shared, for whatever reason (luck, laziness, …), progressive free market politicians will hand you some widely redistributed. In this view, how can anything be a tempered bedrock, especially when adding so many socialist guarantees?
I’d continue, but uncontrollable laughter makes typing impossible.