Obama is Saving Capitalism?
By: Elizabeth Marion
Fox News contributor Juan Williams claimed Monday night on the O’Reilly Factor that President Obama is saving capitalism by bailing out certain businesses and banks. His astonishing statement couldn’t be farther from the truth. Capitalism is being destroyed by this administration and fair competition among businesses is quickly becoming a thing of the past.
The whole idea of a free market system is for companies to have the opportunity to compete against one another without interference from the government. It is not the guarantee of success, but the opportunity to succeed. Success is supposed to be earned, not handed out by the government to whomever they decide is too big to fail or should be given another chance. Those companies who are smart about how they spend their money and can manage to bring in the most revenue by attracting the most customers win. Those companies that can’t do that lose. When the winners and losers are chosen based on who can compete and who can’t businesses go in and out of business all the time. That’s normal. Not everyone gets to be a winner. Not every business will last for decades and decades. And unfortunately employees and others may suffer when a business fails, even though the problem was the decisions that were made at the top and not made by them. This follows the basic principle that actions have consequences and that other people, not just ourselves, can be hurt when we make bad decisions or don’t do a job well. The government is not making these businesses they’re bailing out any better. They’re just protecting people from the consequences. And when people are protected from the consequences they generally don’t really learn from the mistakes they made because they never had to deal with the mistakes they made. Barack Obama and the government are not saving capitalism. They are destroying what used to be a Capitalist system by stepping in to pick who wins and loses instead of allowing the winners and losers to be chosen through competition.
When the winners and losers are chosen through competition the system is fair. It is very harsh, but still fair. Businesses have to earn the right to stay in the market. Those who do not work towards that goal do not gather the rewards. The government bailouts are not changing all of that, but it is not a good thing. Failure is being rewarded. Those who are managing their money poorly and making bad decisions are being saved by the government from the realities of the problems that they have caused for themselves. Those who are losing are suddenly being given an unfair and entirely undeserved boost from the government to help them compete. That is not capitalism. It’s the government taking over businesses, wasting taxpayer money, and allowing certain businesses to break the rules and avoid the parts of the game they don’t like. Not every business will win. Not every business will last. That is okay. And in a free enterprise system, competition, not the government, should be the judge of who the winners are.