It’s Our System, Not China’s Cheating

China’s Not the Big Trade Cheat Harming America’s Domestic Economy – Print View – The Daily Beast.

Zachary Karabell at The Daily Beast takes strong exception to Mitt Romney‘s characterization of China as the big villain in Main Street’s economic downturn. While I suspect Karabell’s partisan motives and disagree with some of his premises, I do agree with this point:

But in terms of pure competitive advantage, all of the many American freedoms and cultural incentives to be innovative, be entrepreneurial, build a business, or go to college to create a career do not change one iota the sclerotic inability of government to urgently and productively invest for the common future. American government did that for the middle years of the 20th century to great effect, and even in smaller ways in the 19th century. No longer.

Karabell stops short of mentioning the name of Dwight Eisenhower, but that is who he is talking about.