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April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review Sept. 29, 2008 / 29 Elul 5768

Are We at an Inflection Point?

By Michael Barone


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http://www.JewishWorldReview.com | You can sum up much of 20th century history by saying that in the 1930s Americans decided that markets didn't work and government did, and that in the 1970s Americans decided that government didn't work and markets did.


The protracted and painful experiences of those decades changed basic public attitudes on the balance between government and markets, between regulation and enterprise, between government aid programs and self-reliance. The breadlines and depression of the 1930s moved Americans in one direction; the gas lines and stagflation of the 1970s moved them in the other.


Which raises the question of whether the financial ructions of 2007-08 (09?) will move them back again. One reason to believe this is possible is the passage of time. Americans in the 1980s and 1990s were ready to accept deregulation and tax cuts and welfare reform because so few of them had personal memories of the 1930s.


In 1992, Bill Clinton ran as a different kind of Democrat because so many voters then had personal memories of the 1970s. Today, fewer do. Half the voters did not reach adulthood until the 1980s. They never sat behind the steering wheel in a gas line or paid monthly bills as inflation was skyrocketing. It's plausible that they may be more open to big government programs than their elders.


Barack Obama and other Democrats have used the financial crisis to spin a narrative. The problem, they say, is deregulation and greed. This is not strictly speaking accurate. Obama and the Democrats opposed tighter regulation of the mortgage giants Fannie Mae and Freddie Mac, and John McCain supported it. Unregulated firms like hedge funds have done well, while heavily regulated banks have had troubles.


But the narrative will be advanced by the Obama-loving media ... and by the passage of a giant financial bailout — er, rescue package. The likelihood, as this is written, is that Obama will be elected president and the Democrats will expand their congressional majorities. Possibly even to the 60 votes they need to effectively control the Senate.


In that case, Democrats might be able to move toward nationalized health care finance. Their card-check bill will promote unionization and do to much of the private sector what union contracts have done to the Detroit Three automakers. Higher taxes and overregulation could reduce economic vitality and creativity. Comparable worth laws could have bureaucrats setting private sector salaries. America could move some distance to becoming another France.


Those seeking that outcome would do well to study some history. Some New Deal-Great Society programs have mostly worked well over the long term: bank deposit insurance, securities market regulation. Some worked well for many years but are on the road to something like financial collapse: Social Security, Medicare. But some had adverse economic effects and proved unpopular: high taxes on high earners, industrial unionization.


The economy in the 1930s suffered from what Amity Shlaes in "The Forgotten Man" calls a "capital strike," with unemployment stuck over 10 percent. Take a look at the polls in the 1940 election. If voters had decided on domestic issues, the Democrats probably would have lost. Franklin Roosevelt won because Adolf Hitler, with his then-ally Joseph Stalin, had conquered most of Europe and was threatening Britain and the United States. Roosevelt's experience and his steady hand on foreign policy won him his third term.


The war that followed produced huge economic growth and sharp increases in income equality — the biggest such movement in American history. But the war policies — government taking up nearly half of gross domestic product, the mobilization of the equivalent of 37 million in the military — are not replicable under any circumstances foreseeable today.


Postwar America continued to grow, with help from the John Kennedy tax cuts, declining unionization and (I would argue) the civil rights acts. But eventually, in the 1970s, regulation designed to freeze a static economy in place and macroeconomic policies complacent about the danger of inflation (the big problem in the 1930s was deflation) produced the gas lines and stagflation voters rebelled against. Policies inspired by the inflection point of the 1930s led to a different inflection point in the 1970s.


Are we looking at another inflection point today? Maybe so. Reviewing the long course of history, I think it's obvious that market capitalism, together with the rule of law, hard currency and regulations that ensure transparency and accountability, has produced bounteous growth and the resources to address problems that require government action, like defending the nation and protecting the environment. But voters tend to consider only the history they know. They might do well to look back a little further.

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Now, more than ever, the melting pot must be used to keep America great. Barone attacks multiculturalism and anti-American apologists--but he also rejects proposals for building a wall to keep immigrants out, or rounding up millions of illegals to send back home. Rather, the melting pot must be allowed to work (as it has for centuries) to teach new Americans the values, history, and unique spirit of America so they, too, can enjoy the American dream.. Sales help fund JWR.

JWR contributor Michael Barone is a columnist at U.S. News & World Report. Comment by clicking here.




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