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With the economy still floundering and nearly one in 10 Americans out of work, it's time for the Obama administration to discard the ideological fiction that a wise and benevolent government can fix things. Being in power doesn't necessarily mean you understand problems or have solutions. The White House is striking out on both counts.
Nowhere was this more evident than at the "Presidential Summit on Entrepreneurship" last spring.
Summit spokesman Ben Rhodes, a deputy national security adviser and former White House speechwriter, set the proper tone, noting that "entrepreneurship is a fundamental American value, and it's also a force that has the ability to unlock opportunity for people around the world."
Rhodes said the summit was intended not to showcase government officials, but to "bring together entrepreneurs â?? social entrepreneurs ... around this question of how we can galvanize entrepreneurship on behalf of economic growth."
Then the parade of government officials began, including the secretary of Commerce, administrator of the Small Business Administration, director of the White House Office of Social Innovation and Civic Participation, senior director for "global engagement" of the White House national security staff and others, with closing remarks by Secretary of State Hillary Clinton.
It was a classic example of "know-it-all" big government at its worst.
Innovators Needed
This should have come as no surprise. By now, it should be clear to most Americans â?? especially the "doers" who create jobs for others â?? that the White House is no fan of free enterprise.
In March, President Obama tipped his hand, excoriating the U.S. business community as "a corporate culture rife with inside dealing; questionable accounting practices and short-term greed." The real problem in America, according to the president, "is not that someone who doesn't look like you might take your job; it's that the corporation you work for will ship it overseas for nothing more than a profit."
White House policies reflect this belief that business is self-centered and evil and government all-knowing and good.
The trouble is: Such attitudes and policies smother entrepreneurship, innovation and job creation, exactly what the U.S. economy so desperately needs, especially now.
Contrary to President Obama's view, the crucial factor for improving life in every society has been private enterprise, individuals who seek to uplift their lives and those of others. Entrepreneurship is neither created nor nurtured by government, nor reserved to the privileged; it springs from individuals and can be found even in the poorest communities in countries worldwide.
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Posted By: MavenDog(570) on 9/1/2010 | 5:06 AM ET
Obama defines profit motive as greed. What entrepeneur would invest his time and effort if there was not a return for his efforts?
Posted By: Fargo Vortac(695) on 9/1/2010 | 3:08 AM ET
Two words: "The Volt"
Posted By: FloridaCharlie(55) on 8/31/2010 | 10:31 PM ET
"If one rejects laissez faire on account of mans fallibility and moral weakness, one must for the same reason also reject every kind of government action."? "Manufacturing and commercial monopolies owe their origin not to a tendency imminent in a capitalist economy but to governmental interventionist policy directed against free trade and laissez faire." Ludwig von Mises - Italian Economist 1881 - 1973
Posted By: Judith from Michigan(2595) on 8/31/2010 | 10:21 PM ET
Countless articles have been written, countless financial experts & scores of business leaders have pleaded with Mr O & Co to study, read & learn about the free market system with the hope they might come to their senses. Even foreign leaders are voicing their concerns about this admin lack of "understanding". The main point is being overlooked. This admin is marching toward Socialism where govt controls all means of production. As in taking over. No private enterprise. End of story.
Posted By: acierno(2265) on 8/31/2010 | 7:47 PM ET
that gang in washington couldnt run an ice cream stand. most of them have no business experience and their minds were poisoned in universities. what do you expect from a bunch of egg heads and socialists.
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