Friday, January 13, 2012

More strikes against Gingrich, Krugman

In her column at the WaPo today, Jennifer Rubin expounds further on the stupidity of Gingrich's attacks on Romney and Bain Capital. She passes on an e-mail received from one of her readers that makes a salient observation,with regards to Rick Tyler's (from Gingrich's superpac) comparison of Romney to Steve Jobs.

Tyler's words:
This is not free-enterprise in the sense of Steve Jobs and Apple. People think of these [firings] as isolated incidents. But there is a Bain victim in nearly every state of the union. If voters learn about a pattern of predatory corporate muggings, I think they’re going to get angry.
The devastatingly correct critique from Rubin's reader:
This just proves neither Gingrich nor anyone on his team understands basic economics. Steve Jobs was perhaps the most creatively destructive force on the planet in the last twenty years. That dude is still destroying entire industries even after he’s dead.
Apple--under the direction of Jobs--almost single-handedly destroyed the CD industry, completely changing the music industry in the process. His iPhone has changed the cell-phone industry drastically. And his iPad has done the same to the laptop industry. That's an awful lot of destruction. But it is--and was--creative destruction, the kind of destruction that makes capitalism work. And that's no different from what outfits like Bain Capital do. Except Jobs and Apple did a lot more of it.

Rubin goes on from there, however, to note that Romney's response demonstrates, at the very least, that he understands how the economy and businesses function, something not true of Gingrich, Tyler, or the various people from both sides of the aisle agreeing with them. In her words:
To be blunt, at least he[Romney] has a clue what the private sector does.
That brings us right back to Krugman's column from yesterday, discussed previously. Krugman--believing he is being brilliant--says:
And there’s also the question of whether Mr. Romney understands the difference between running a business and managing an economy.
And with that, Krugman proves Rubin's point. Because the question is: does a candidate actually understand how things work in the private sector, for if not, how can they make good policy? For Gingrich--like Obama--the answer is a resounding "no."

Cheers, all.

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