Wednesday, November 21, 2007

NEWSFLASH: The economy is run by 1 man

So thinks Maureen Dowd. Speaking about Hillary, she says

Her Democratic rivals had meekly gone along, accepting her self-portrait as a former co-president who gets to take credit for everything important Bill Clinton did in the ’90s. But she was not elected or appointed to a position that needed Senate confirmation. And the part of the Clinton administration that worked best — the economy, stupid — was run by Robert Rubin.

Putting aside whether or not Hillary is qualified, what the hell is Maureen Down smoking? The economy is not run by the Treasury Secretary. Hey Maureen, as much as you and your fellow New York Times leftists wish it to be, this is not he USSR just yet. Nobody runs the economy. The economy runs itself. The government pulls a few levers here and there in hopes of steering some economic decisions in one direction or another. Sometimes it works, most of the time it doesn't. But that is all at the margin.

As far as I can tell, neither Bill Clinton or Robert Rubin created or expanded AOL or ebay or amazon or Siebel or Cisco or Intel or Lucent or Microsoft. I know Al Gore created the Internet but that's a whole different issue. Those companies as well as thousands of others were the engine of the 90s economy. Clinton and Rubin had as much to do with it as I did. No I take that back, I had more to do with it since I actually worked for a tech startup back in the day.

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