Thursday, December 11, 2008
Our first socialist president
Werner Sombart was a German economist/sociologist at the turn of the 20th Century. In graduate school I read a paper of his which established the "apple pie theory of socialism." Sombart argued that the US had not succumbed to socialism because each worker had a slice of apple pie in his lunch pail - ultimately that workers, compared to places where socialism thrived, were reasonably well treated.
But Sombart's theory may be out of date. One could make the case that George Bush is our first socialist president. Consider the following. During his administration government expenditures grew by 40% (not counting the numerous bailouts for financial and other industries). By any measure that is a healthy level of growth. But that 40% will pale when one considers the long term obligations of the unfunded liabilities of things like the medicare prescription plan. We made some huge steps toward nationalizing the educational system through No Child Left Behind. He seems to have accepted the nationalization of banks and key industries like autos. Those are certainly accomplishments that would make a socialist proud.
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