Price determination of corporate capital

Richard (RJ) Eskow: David Brooks Thinks Romney’s a “Modern Capitalist.” He’s Right.  November 3, 2010 – 04:30 pm
Exchange Rate Policy and Price Determination in Botswana domestic prices

David Brooks says Obama’s attacks on Romney’s business record are “about capitalism.” That’s like saying an arrest for vehicular homicide is “about driving.”

Our economic “roads” are jammed with destructive drivers like Romney. They’re menacing motorists with their massive semis and monster dumptrucks while the traffic laws go unenforced. And whenever there’s a lethal pileup their friends say it proves we shouldn’t have traffic laws at all.

Brooks says that the President’s campaign rhetoric “challenges the entire logic of capitalism as it has existed over several decades.” That sounds like a subliminal suggestion from the liberals’ favorite conservative that Barack Obama’s a socialist. But if there’s anything that needs to be challenged at this point in history it’s “the entire logic of capitalism as it has existed over several decades.”

This decades-long wave of unchecked corporate greed was brought about by deregulation, along with other symptoms of a corrupting collusion between corporate and political leaders. That unholy marriage has been made manifest in the very being of Mitt Romney.

Brooks conflates the economic rampage this process has created with capitalism itself – or, in a phrase he uses no less than three times in an 800-word piece, “modern capitalism.” Those two words embrace behaviors that include both Wall Street lawlessness and the government largesse that inflates the wealth of people like Mitt Romney, whose firm’s first success was made possible by a Massachusetts tax deal and whose personal fortune has been padded by undeserved loopholes.

Source: Republican US Presidential Candidate Profiles

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