This is part of Rare’s series of different perspectives on who would make the best president. The views and opinions expressed belong solely to the author and do not necessarily reflect the view of Rare and its staff.
Ayn Rand once noted how “elections are won in every month of the year except November.” A presidential race can’t change ideas, it just cashes in on those already accepted as truth.
I start with the premise that the only thing that can save the country is capitalism.
Yet sixty-three percent of Democrats and 49 percent of Republicans view Wall Street as detrimental to the economy, as reported by Daily Wire. Barely half view global free trade positively, according to Pew. The majority of young people now reject capitalism outright.
In this context, Donald Trump’s business credentials are exactly what makes him so dangerous. In the minds of voters, Trump represents capitalism. But as was pointed out in this space five years ago, Donald Trump is explicitly anti-capitalist on issues ranging from taxes to anti-trust to trade.
Trump’s use of the term “rape” in describing global trade is a horrid but telling indicator of just how he views voluntary relationships.
For nearly a decade, leftist intellectuals have spread the mythology that free markets were tried — and failed — under George W. Bush, necessitating greater government controls. But it was President Bush who started the bank bailouts in 2008, Obama just picked up the ball and kept running.
In Hillary Clinton, voters get another term of Obama, and Bush before him. She’s a mixed-economy power-luster, same as the old boss. If they are to survive, Republicans must present a capitalist alternative. Right now, they can’t.
And when Hillary’s policies fail, as they will, her socialist ideas will rightfully be denounced.
But President Donald Trump would be the standard-bearer for American capitalism, despite the fact his ideas are exactly opposed.
Because he is in business, Trump’s progressive taxes, threats to CEOs and tariffs against consumers will be legitimized as capitalist, as moral, as just. They’re not.
And when Trump’s policies fail, as they will, American capitalism will unquestionably get blamed.
This is why I’m supporting Clinton: Long term, the damage levied by Donald Trump to capitalism in America will be immeasurably worse than that wrought by Hillary Clinton.
Long term, the damage levied by Donald Trump to capitalism in America will be immeasurably worse than that wrought by Hillary Clinton.
Consider that the most catastrophic financial collapse in U.S. history came under President Herbert Hoover, the Republican businessman who enacted trade restrictions to “bring back jobs.”
What followed wasn’t just economic misery, but the subsequent election of Franklin D. Roosevelt and the institutionalized welfare that hasn’t stopped metastasizing since.
In effect, what worries me most isn’t Trump, but what comes after Trump. “We tried free markets under Donald Trump,” they’ll say. “Look how it failed!”
At that point, with capitalism completely discredited, the path is very short to dictatorial rule. There’s nobody left to stand in the way.
Jonathan Hoenig is managing member at Capitalistpig Hedge Fund LLC. Redistribution with proper citation welcome.