«In 2002, toward the end of her public career, Thatcher was asked to name her greatest achievement. “Tony Blair and New Labour,” she replied. “We forced our opponents to change their minds.”
Sanders might say the same about Trump and his Republican Party. Goodbye to Reagan-era enthusiasm for markets and trade: Trump vowed much more aggressive and intrusive government action to protect American businesses and workers from global competition. He also offered a bleak diagnosis of America’s condition, for which the only way forward was to return to the past.
At the same time, Trump’s persona vindicated every critique Sanders might advance about the decadence of late capitalism. Here was a putative billionaire whose business methods involved cheating customers and bilking suppliers. His private life was one scandal after another, and he spent his money on garish and gimcrack displays. He staffed his administration with plutocrats flagrantly disdainful of the travails of ordinary people, and with grifters who liked to live high on public expense. (...)
While Trump’s behavior discredits markets, his rhetoric vilifies markets. In April, the Trump administration imposed the most crushing tariffs on international commerce since the Smoot-Hawley Act’s regime of 1930. The Trump adviser Stephen Miller explained to Fox News the administration’s reasons: “Our leaders allowed foreign countries to rig the rules of the game, to cheat, to steal, to rob, to plunder,” he said. “That has cost America trillions of dollars in wealth.” Echoing his boss’s grievance-laden language, he said, “They’ve stolen our industries.” It’s not always phrased so vituperatively, but the message is consistent: free exchange is an illusion; there is nothing but exploitation. The only way to protect Americans from exploitation is for the nation’s political leaders to subject more and more of the U.S. economy to state control. If this way of thinking is true, then the severest critics of capitalism are right.
Happily, this way of thinking is not true. Free exchange is a system of cooperation and mutual benefit, the most effective that humanity has yet discovered. But who in the Trump-led United States is arguing the case for free exchange? The most influential intellectuals of the left reject markets as too inequitable; those on the right reject them as too cosmopolitan. On one side, the professional politicians are intimidated by their most radical supporters; on the other, the politicians are under the sway of crooks and con artists, whose idea of capitalism is unregulated permission to bilk and defraud.
Marxists condemn capitalism as “organized robbery.” They could not be more wrong. But who will refute them when the government of the world’s largest capitalist democracy is in the hands of organized robbers?»
Excerpt from "Trump Is Making Socialism Great Again. Capitalism needs better advocates."
By David Frum, The Atlantic
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