03 October 2012

I don't value business experience because it's special; I value it because it's mundane

Reuters | Felix Salmon | Victimized billionaires
“You know, the largest and greatest country in the free world put a forty-seven-year-old guy that never worked a day in his life and made him in charge of the free world,” Cooperman said.
[...] Chrystia asks Cooperman about his “never worked a day in his life” comment. It turns out that by “working”, Cooper means that Obama “never made payroll. He’s never built anything”. In other words, this is very much the Romney version of the great-men-of-history worldview: one where a handful of visionary builders use their skills to create jobs for the masses and wealth for themselves.
This is exactly backwards. I disrespect Obama for never having worked in the private sector not because I idolize a handful of "great men," but because it's something that the vast majority of people have done while he has not.

I want a president who has worked to satisfy customer demand through voluntary exchange. I don't want that because it's a rare and noble thing that only illustrious titans of industry have accomplished, but specifically because it is so common and fundamental to our society.

(Via Megan McArdle)

PS Salmon misinterprets at least three other things in this one blog post. I lack the patience to deal with such error density. It's a train wreck of oversimplification and overconfidence.

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