The story that statistics tell
- They are naive and inept at running a Pax Americana that can be agile and win at international realpolitik, and
- Those “socialists” must do badly at encouraging growth in an entrepreneurial-competitive capitalist economy.
Since 1960, Republicans have controlled the White House 28 years, and the Democrats 24. And in those years, Democratic administrations have created 42 million jobs, and Republican ones 24 million jobs. This, according to a Bloomberg analysis of BLS data, is accurate and true. It’s a devastating set of numbers – and by the way, the stock market has performed better during Democratic tenures as well, as another Bloomberg analysis showed that returns on investment under Democrats have done about nine times better than under Republicans.
But let’s assume you folks are members of that dying race, wonk-citizens who are moved by facts. Try this explication of economic growth vs debt under the two parties. Do you still believe (against ALL evidence) that the GOP is the way to fight the deficit?
So what does the GOP really want?
“(Galbraith suggests that) we seem to have forgotten how to grow the economy except by increasing inequality. The result has been a series of bubbles, and bubbles always cause damage when they pop. Galbraith also trains his lens on Europe, and finds that the common assumption that Europe is “more equal” than the U.S. is untrue; precise measurements reveal that, aside from the handful of northern European social democracies, the opposite is true.”
“Surveying a 40-year period, he finds that legislative outcomes almost never correspond to the public opinion preferences of the poor (at least when their expressed interests differ from those of the rich), whereas they much more frequently match the policy preferences of the wealthiest 10 percent.”
“All for ourselves and nothing for other people, seems, in every age of the world, to have been the vile maxim of the masters of mankind. As soon, therefore, as they could find a method of consuming the whole value of their rents themselves, they had no disposition to share them with any other persons.” – Adam Smith
(Originally appeareed at Contrary Brin.)