Bain battles; crony capitalism – Right Turn – The Washington Post

J. Rubin gets it wrong, again.  Moving assets from unproductive uses / owners to productive uses / owners is a social good, standing alone.  Workers put out of work in unproductive businesses are made free to find productive use for their efforts instead of toiling away for no particular reason.  The steel industry in particular was made relatively unproductive when done in the US by very strict air quality standards, other federal regulations, and non-commercial, sticky deals for wages and work rules.  Better to highlight the effects of government fiat – such as blocking Keystone XL – and the impacts on downstream businesses.  This is more analogous to what befell steel (and now coal) and effects should be similar than more wasted federal funds for friends.

It is a smart play to counterattack, but Romney will at some point need to defend his Bain record with statistical evidence that is more detailed than what he presented in the primary on claimed job-creation and with the flip side of Bain — the personal success stories and human accounts of employees who found work and rewards at Bain companies.

via Bain battles; crony capitalism – Right Turn – The Washington Post.

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