Spot on Joe, a renewed focus on economy seen from a Smithsonian perspective is not to give tax cuts to the rich. Don’t get me wrong, we need rich people, and they need to be recognized for their contribution to society.
But instead of making a Keynesian attempt at just pumping out money to industry, we need to address, as I see it, the true problem of free market theory.
To me, that is UNDERSTANDING the theories of Adam Smith, and consequently try to find the solution we need to find, within the framework of the Smithsonian theories.
Adam Smith wrote two books, The wealth of nations, that gave us free market theory, and ethical works on how to behave morally.
His basic point is, that freedom has to be balanced out with moral views. That is, what we support, hold dear, sacrifice ourselves for and find virtue and value in.
According to Smith, this is an inner compas, your conscience.
I believe, that the workers are always very conscientious.They love their country, and support their local community. They sacrifice for a better world. They don’t send away production to China, they still are what is written so proudly on the boxes shipped out of the production hall; Made in America.
That is the true point of Adam Smith, according to my understanding of Smith, freedom has to be balanced with conscience towards the country you live in.
Someone has to be the pillar of society, and the ones who make things for the little ones to look up to, and be proud of.
The workers are the salt of the earth, and what we should concentrate about.
So invest in them, and other parts of productive America. Farmers, fishermen, bakers. People making things, because the truth is, to have a job is in itself a source of pride and self esteem.
But don’t forget, that the rich are not necessarily enemies, they can be partners, IF they stop the production flight to China.
This is really where I think we changed something in the last period, we stood up for the workers, and tried to keep their jobs in the US.
That gave us a job boom, and a much needed source of extra income.
To be an empire, you have money coming in from all around, but at the of the day, what you are, is what you do, what you make and how you do it.
Don’t forget those proud words, and make it even prouder; Made in America.
G-d bless the will to stand up for America.