Steve Forbes - The Last Gasp of the Dinosaurs

[Zoom-boing]

Steve Forbes: When you have a severe recession and you have something transformational as we now see un-folding with the Web, you have to do two things. One, you have to address the immediate circumstances, which means belt tightening, which we did—and we did after 2001, when the economy also went temporarily off of the cliff. But at the same time, you have to invest for the future. And thankfully, 12 years ago, when we went online as did everyone else, we did not make the mistake that many print publishers made, and that was to think you take the printed page, throw it online, and have your electronic publishing. When Thomas Edison invented movies, some people thought you’d film a stage play and that was a feature film. No. It’s an entirely different medium.

We’ve always focused on entrepreneurs, on investors—on capitalist people who want to get ahead, people who want to do things in business. So we saw the website as another platform to reach the same constituency. Our value added is information, insights, and analyses, plus our profound belief in the moral basis of capitalism, which is meeting the needs and wants of other people. If you have that, you don’t get hung up on what the particular platform is.

reason: David Carr had a piece about you guys in The New York Times—a little snarky, but it was interesting. One thing he posited is that in 2009 this whole “Capitalist Tool” stuff is out of fashion; it’s out of step with the times. What’s your broad response to the notion that your stance or ethos is out of step and anachronistic?

Forbes: Well, capitalism—entrepreneurial capitalism, democratic capitalism—always goes through phases where it’s, quote, “out of fashion.” And it’s usually because of catastrophic mistakes made by government. The victim is blamed for it.

But you don’t abandon your mission or your core values because a crisis has put capitalism under a cloud. We went through it in the ’30s, we went through it in the ’70s, the greedy decade of the ’80s. These things do happen. But I think what’s happening in Wash-ington is the last gasp of the dinosaurs of the 1930s. It’s Jurassic Park statism. Oh! Franklin Roosevelt again! Wow! But it’s not working. It didn’t work in the ’30s.

So here we are today, and what’s the response? More spending, more taxes, and the economy is not responding the way it should. But while we’re getting assaulted now, it’s also a chance to regroup and hit these people back, because they are going against human nature, they are going against the impulses that come out of true entrepreneurial capitalism. While they seem to have the commanding heights at the moment, it’s only temporary.
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reason: Do you see a reawakening of those values, a reawakening in the Republican Party specifically, after eight years of a presidency when government was expanded hysterically, regulation was expanded hysterically? Do you see Republicans rediscovering their limited-government roots?

Forbes: I think it’s beginning to happen. Certainly among the newer, younger members. Or ones such as Paul Ryan from Wisconsin, who gets it on monetary policy, gets it on what’s happening with entitlements. Because, clearly, trying to be a Democrat Lite is not the way to perpetual power. Power does corrupt, and the GOP began to believe that pork will buy you happiness. It didn’t. And in fact, it demoralized the base of the party.

So now we have pork squared with the Obama administration, and it’s an opportunity for the Republicans to quickly regroup and find their voice again. The Obama administration is making a classic mistake of leadership: They feel they have to do it now, but they’re trying to do too much too quickly. It’s going to blow back on them.
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reason: What’s your assessment of Obama’s health care package?

Forbes: Well, let’s take the president’s word that health care should be universal and affordable. How is it best achieved? We know government achieves it by rationing. And the markets achieve it by creating more of it, and finding cheaper and better ways to deliver it. What people don’t fully grasp is we don’t have free enterprise in health care today in the United States. It is a hybrid system, because it’s third party. So you have a disconnect between providers and consumers. And what kind of market is it where the consumer doesn’t know what the thing costs? Anything else, you do. What is my hamburger going to cost? What is my car going to cost? But if you go to a hospital and ask what a procedure’s going to cost, they assume either you’re a lunatic or you must not have insurance. Why else would you want to know what the price is? How weird. How unusual. Why? Somebody else is paying.

So the system doesn’t work. And you don’t get the kind of productivity you get everywhere else. We use phones and emails for everything now. Do you do consultation with your physician or nurse by phone or email? Rarely. Or hospitals giving warranties, like you have everywhere else, where if they don’t scope your knee right, you go back and don’t have to pay for it again. Why wouldn’t that be their dime? Because it’s not real competition. They know you’re not writing the checks, so therefore they don’t have to please you; they just have to make sure they get a bureaucratic insurance company to approve it.

But we see from Lasik what happens when you get a real market. It costs a third less than it did 10 years ago. Cosmetic surgery hasn’t had inflation, like you have in the rest of health care, even though demand has increased sixfold in the last 15 years and even though there have been enormous technological innovations. Why? Because you pay for it.

Entire interview here:

'The Last Gasp of the Dinosaurs' - Reason Magazine

 

[Sinatra]

That was a great read.

Forbes long ago stepped from the shadow of his father and became one of the more insightful and well-spoken economic commentators on the national stage.

Hopefully more will read his words and understand the message...

 

[Old Rocks]

Yup, trust us money men, so we can screw you again.

 

[dilloduck]

Yup, trust us money men, so we can screw you again.

Be nice to them---they will be the ones funding alternative energy.

 

[Sinatra]

Yup, trust us money men, so we can screw you again.

Be nice to them---they will be the ones funding alternative energy.

To say nothing of the vast majority of all taxes paid...

 

[kyzr]

Steve didn't move any factories overseas (that I know of) he seems more of a tax cutter than a "service economy" proponent. If the US economy is going to recover we'll need the guys like Steve and his readers to carry the ball.

 

[Contumacious]

Yup, trust us money men, so we can screw you again.

Not me I trust the bureaucrats ....Heil Hitler.

"Sometimes it is said that man cannot be trusted with the government of himself. Can he, then, be trusted with the government of others? Or have we found angels in the form of kings to govern him? Let history answer this question." --Thomas Jefferson: 1st Inaugural, 1801. ME 3:320

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[Zoom-boing]

I thought it was a great read as well. The health care portion? A common-sensed, non-government takeover, real reform approach would work. Which is exactly why they aren't considering it.

 

[editec]

I continue to not be impressed by this so called social thinker.

If he was a nobody, his msusings of society wouldn't make a splash...not in a place like this, folks.

He has, as far as I can tell never had an original thought in his life.

The man would be a tool, only he was to the manor born, so he's a master.

 

[dilloduck]

I continue to not be impressed by this so called social thinker.

If he was a nobody, his msusings of society wouldn't make a splash...not in a place like this, folks.

He has, as far as I can tell never had an original thought in his life.

The man would be a tool, only he was to the manor born, so he's a master.

We don't need original thought ( i.e. synthetic trees) to resolve our problem. Old time tested common sense needs to be repeated over and over under someone listens and acts on it.

 

[California Girl]

I continue to not be impressed by this so called social thinker.

If he was a nobody, his msusings of society wouldn't make a splash...not in a place like this, folks.

He has, as far as I can tell never had an original thought in his life.

The man would be a tool, only he was to the manor born, so he's a master.

So, you're saying that because he was born into wealth, he is somehow not entitled to speak?

It is odd how the left dismiss the wealthy, and yet look at the Kennedy's as though they are gods.

 

[Richard-H]

I'm amazed that Conservatives continually preach that we should trust the capitalists, who have absolutely no obligation or sense of responsibilty to anyone but themselves, and not trust the government, which is responsible and accountable to us and which ultimately we control.

At this point in time government for and by the people is a government that puts a leash on all the irresponsible pigs that have caused this economic crisis and makes damn sure that it doesn't happen again.

There are some few responsible, ethical capitalists and they won't be affected by increased regulation, since most of it restricts activity that they would not participate in anyway. They also don't whine about paying taxes as they're intelligent enough to understand that they are part of an economically interdependant soceity and that their own wealth is due to both the freedoms and protections of that society.

But the biggest hinderence to the progressive movement to create an economically fair and free soceity is the legions of conservative sycophants who for fear that an economically fair soceity would be an economic disaster for them and who therefore spend their lives lustfully kissing pig ass in the vain hope of aspiring to the same.

 

[Sinatra]

I'm amazed that Conservatives continually preach that we should trust the capitalists, who have absolutely no obligation or sense of responsibilty to anyone but themselves, and not trust the government, which is responsible and accountable to us and which ultimately we control.

At this point in time government for and by the people is a government that puts a leash on all the irresponsible pigs that have caused this economic crisis and makes damn sure that it doesn't happen again.

There are some few responsible, ethical capitalists and they won't be affected by increased regulation, since most of it restricts activity that they would not participate in anyway. They also don't whine about paying taxes as they're intelligent enough to understand that they are part of an economically interdependant soceity and that their own wealth is due to both the freedoms and protections of that society.

But the biggest hinderence to the progressive movement to create an economically fair and free soceity is the legions of conservative sycophants who for fear that an economically fair soceity would be an economic disaster for them and who therefore spend their lives lustfully kissing pig ass in the vain hope of aspiring to the same.

You're not a capitalist?

If not, it makes everything you say after that statement unworthy of consideration...

 

[Midnight Marauder]

I'm amazed that Conservatives continually preach that we should trust the capitalists, who have absolutely no obligation or sense of responsibilty to anyone but themselves, and not trust the government, which is responsible and accountable to us and which ultimately we control.

At this point in time government for and by the people is a government that puts a leash on all the irresponsible pigs that have caused this economic crisis and makes damn sure that it doesn't happen again.

There are some few responsible, ethical capitalists and they won't be affected by increased regulation, since most of it restricts activity that they would not participate in anyway. They also don't whine about paying taxes as they're intelligent enough to understand that they are part of an economically interdependant soceity and that their own wealth is due to both the freedoms and protections of that society.

But the biggest hinderence to the progressive movement to create an economically fair and free soceity is the legions of conservative sycophants who for fear that an economically fair soceity would be an economic disaster for them and who therefore spend their lives lustfully kissing pig ass in the vain hope of aspiring to the same.

Karl Marx would be very proud of you. Of course, at least Old Karl could spell.

Which was my first clue you didn't just copy and paste this in from his manifesto!

 

[garyd]

It wasn't capitalists that caused this poroblem is was over regualtion at every level of government state federal and local. Fannie and Freddie are chartered by the Federal government and it's leaders are generally hand picked by the party currently in power. It was there that the rot started and through them it ballooned into a disaster that drug the rest of the financial system down with it.

 

[Ringel05]

I'm amazed that Conservatives continually preach that we should trust the capitalists, who have absolutely no obligation or sense of responsibilty to anyone but themselves, and not trust the government, which is responsible and accountable to us and which ultimately we control.

At this point in time government for and by the people is a government that puts a leash on all the irresponsible pigs that have caused this economic crisis and makes damn sure that it doesn't happen again.

There are some few responsible, ethical capitalists and they won't be affected by increased regulation, since most of it restricts activity that they would not participate in anyway. They also don't whine about paying taxes as they're intelligent enough to understand that they are part of an economically interdependant soceity and that their own wealth is due to both the freedoms and protections of that society.

But the biggest hinderence to the progressive movement to create an economically fair and free soceity is the legions of conservative sycophants who for fear that an economically fair soceity would be an economic disaster for them and who therefore spend their lives lustfully kissing pig ass in the vain hope of aspiring to the same.

So you want to put a leash on those responsible for the bubble and bust. Look no further than the Dems who propagated it and the greedy (and not so greedy) average, everyday Americans who bought into it, riding the wave. All waves eventually crash on something.
It's not fear of an economically fair society, it's fear of an economically (hence politically) enslaved society.
(Utopia = myth)

 

[Darkwind]

I'm amazed that Conservatives continually preach that we should trust the capitalists, who have absolutely no obligation or sense of responsibilty to anyone but themselves, and not trust the government, which is responsible and accountable to us and which ultimately we control.

At this point in time government for and by the people is a government that puts a leash on all the irresponsible pigs that have caused this economic crisis and makes damn sure that it doesn't happen again.

There are some few responsible, ethical capitalists and they won't be affected by increased regulation, since most of it restricts activity that they would not participate in anyway. They also don't whine about paying taxes as they're intelligent enough to understand that they are part of an economically interdependant soceity and that their own wealth is due to both the freedoms and protections of that society.

But the biggest hinderence to the progressive movement to create an economically fair and free soceity is the legions of conservative sycophants who for fear that an economically fair soceity would be an economic disaster for them and who therefore spend their lives lustfully kissing pig ass in the vain hope of aspiring to the same.

I'm not sure what scares Me more.

The fact that you think that government is accountable to us when that has not been the case in nearly 70 years or that you somehow think that human nature in a capitalistic society leads to greed and abuse of power but that same human nature does not manifest itself when they are elected public servants.

 

[The T]

I'm amazed that Conservatives continually preach that we should trust the capitalists, who have absolutely no obligation or sense of responsibilty to anyone but themselves, and not trust the government, which is responsible and accountable to us and which ultimately we control.

At this point in time government for and by the people is a government that puts a leash on all the irresponsible pigs that have caused this economic crisis and makes damn sure that it doesn't happen again.

There are some few responsible, ethical capitalists and they won't be affected by increased regulation, since most of it restricts activity that they would not participate in anyway. They also don't whine about paying taxes as they're intelligent enough to understand that they are part of an economically interdependant soceity and that their own wealth is due to both the freedoms and protections of that society.

But the biggest hinderence to the progressive movement to create an economically fair and free soceity is the legions of conservative sycophants who for fear that an economically fair soceity would be an economic disaster for them and who therefore spend their lives lustfully kissing pig ass in the vain hope of aspiring to the same.

I'm not sure what scares Me more.

The fact that you think that government is accountable to us when that has not been the case in nearly 70 years or that you somehow think that human nature in a capitalistic society leads to greed and abuse of power but that same human nature does not manifest itself when they are elected public servants.

Seeing that a good majority of those we elect are rather wealthy in their own right.

Good post.

 

[Midnight Marauder]

I'm amazed that Conservatives continually preach that we should trust the capitalists, who have absolutely no obligation or sense of responsibilty to anyone but themselves, and not trust the government, which is responsible and accountable to us and which ultimately we control.

At this point in time government for and by the people is a government that puts a leash on all the irresponsible pigs that have caused this economic crisis and makes damn sure that it doesn't happen again.

There are some few responsible, ethical capitalists and they won't be affected by increased regulation, since most of it restricts activity that they would not participate in anyway. They also don't whine about paying taxes as they're intelligent enough to understand that they are part of an economically interdependant soceity and that their own wealth is due to both the freedoms and protections of that society.

But the biggest hinderence to the progressive movement to create an economically fair and free soceity is the legions of conservative sycophants who for fear that an economically fair soceity would be an economic disaster for them and who therefore spend their lives lustfully kissing pig ass in the vain hope of aspiring to the same.

I'm not sure what scares Me more.

The fact that you think that government is accountable to us when that has not been the case in nearly 70 years or that you somehow think that human nature in a capitalistic society leads to greed and abuse of power but that same human nature does not manifest itself when they are elected public servants.

Seeing that a good majority of those we elect are rather wealthy in their own right.

Good post.

Understanding the mentality of these neo-Marxists is easy -- there's "good" rich and "bad" rich. Much like there's "good" CO2 and "bad," when you're dealing with Goebbels Warming acolytes.

 

[JakeStarkey]

Yes, there are many far right "syncophantic" fans of the capitalists here. They admire what they can't have, while those of us who done well simply smile at and wish the wingnuts well.