Barry, My Liege :
We know that the Economic National Security of the United States will be decided in the coming election.
As a reminder of recent history, during the many decades of industrial development after the Civil War and through the 1920's, the United States was guided by the classical economic theory epitomized by the 'laissez faire, laissez passer' or free market philosophy. Following that idea gave us both a developing economy and the Great Depression with its years of social malaise.
The New Deal enacted by Congress to remedy the excesses of that unbridled free market society gave the United States more than half a century of sound economic growth and a solid middle class.
Since 1990, the underpinnings of the New Deal have been systematically weakened by successive Congresses and Presidents.
Now we face the likelihood that the last vestiges of the New Deal and a sound middle class will die away.
My Liege, you MAY have an historic opportunity to reverse our current drift toward oligarchy and the death of democracy; but, let us be clear, you will have that chance only if you win and your party controls or is able to work with both Houses of Congress to pass meaningful legislation.
If the fortunate circumstance arises that you and your party control the elected government, then you will have a very limited time to enact legislation to restore democracy and the middle class.
I hope you have a series of laws written so that you may enact them at the first window of opportunity.
But, if you win while the opposing party controls Congress and continues its stubborn refusal to work for the country instead of its selfish interests, then it may be impossible for you to make any significant changes to our current trajectory.
If that happens, the exceptional experiment we began in the 1600's will end with the capture of government by forces of wealth and power. And, the Economic National Security of the United States will be fatally harmed.
Godspeed, My Liege, we wish you success.
Your faithful servant,
Friday, August 10, 2012
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