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The White House also pushed GM into closing down many dealerships as a way of cutting costs. Yet critics of Romney do not attack Obama for “downsizing.” There is a double standard deeper than politics at play here.
You have the right to move from Manhattan to Brooklyn in order to lower your living costs. For the same reason, businessmen have the right to move their manufacturing from America to China to lower their production costs.
Obama’s antitrust-enforcers act to destroy companies of ability in the economy. The Michael Phelpses of business want to swim as fast as their minds and bodies can go, but they can’t because the judge keeps moving the finish line away, on grounds that they’ll win too many golds
Most everyone agrees that if you work, you should be compensated based on your productivity, skill, and time. Financiers are no different: their work demands far more than forty hours a week, their skills are highly specialized, and the value of what they produce depends on their focused, creative performance.
Elliot Gerson, secretary of the Rhodes trust, points to an interesting trend: In the past thirty or so years, Rhodes Scholars have disproportionately chosen to go into Wall Street careers. He writes: “Only three American Rhodes scholars in the 1970s (out of 320) went directly into business from Oxford; by the late 1980s the number […]
The issue of income inequality reveals one of the ugliest aspects of today’s culture. The ugliness stems not from the existence of income inequality–but from the motives of those who denounce it. Income inequality used to be a rabble-rousing issue of the left. Now it is being raised by mainstream figures, from the head of […]