Growth, Not Redistribution

December 30, 2011 08:49

If you want redistribution, you’d better first produce growth. Which the Obama Democrats’ policies have failed to do. Obama (and most academic historians) have learned the wrong lessons from FDR. – NRO


By Michael Barone at National Review Online



‘A 2008 election widely regarded as heralding a shift toward the more government-friendly public sentiment of the New Deal and Great Society eras seems to have yielded just the reverse.”


these findings suggest that Obama’s much-praised speech at Osawatomie, Kan., decrying inequality, “may well reduce his chances of prevailing in a close race.” Class-warfare politics, as I have noted, hasn’t produced a Democratic presidential victory in a long, long time.


Roosevelt’s 1934 and 1936 victories were won in periods of growth. After the economy shifted into recession in 1937, New Deal Democrats fared much worse, and Roosevelt won his third and fourth terms as a seasoned wartime leader, not an economic redistributor.


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