Beautifully done, very well said.
'shinglejim':
"We’ve been treated to a great deal of angst in the past week as some on our side have questioned Romney’s work at Bain capital. It’s been described as an assault on capitalism, one of the foundations of conservatism. If you listen to the arguments made from those complaining, you’d believe that leveraged buyouts and layoffs are the cornerstone of capitalism and to question them is to question one’s conservative bona fides.
Capitalism is more than leveraged buyouts and private equity investments. Capitalism is the free exchange of goods for a profit, the ability to accumulate capital and private property rights. Its entrepreneurship and competition and all they do to create a healthy economy. A few companies are changing the way people view capitalism and its happening in that laboratory of innovation known as Texas. The leaders of these companies believe capitalism doesn’t have to be a zero sum game with one winner and one loser. This belief that capitalism maximizes the value for all stakeholders rather than a select few is catching Texas by store. Its this view that should be compared to Romney’s record at Bain and I believe that is exactly what Perry is trying to do.
I’ve spent my entire fifteen year career in business. I’ve participated in mergers, acquisitions, reorganizations and refinancing transactions. My view has always been that the shareholders and investors of a company are the ones putting their money at risk; therefore they rightfully deserve the rewards. That is the beauty of capitalism and thats what makes America great. I still agree with that premise, but today I approach it from a different perspective. The reason for the change you ask? A few months ago, I was treated to the most vigorous defense of capitalism I’ve ever heard. Surprisingly, it didn’t come from Limbaugh or Kudlow or anybody from the Republican Party. In fact it came from noted Libertarian John Mackey, founder of Whole Foods in Austin, Texas.
I grew up a Rush baby, but I’ve never heard Rush defend capitalism as eloquently as Mackey did that day.
He spoke of competition, entrepreneurship and private property rights. He aimed both barrels at unionization and over-regulation and blew them away. He spoke of capitalism as one of the factors key to ending Communism, how it has improved the life of everyday Americans and spoke of what it can bring in the future as it creates wealth for those around the world. He had both conservatives and liberals eating it up. It was truly amazing.
Mackey defines capitalism as creating value for all stakeholders...."
(Read more? You should, it's a great piece. Click title. Comment to discuss)
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