That is not exceptionalism
Interesting response from Mr. Goldsmith on the meaning of America Exceptionalism. He cites another letter which says that we are exceptional due to capitalism and individualism and that the proof is in the economic picture the decades between the 1950s through the 1980s. He says it is pure capitalism at this time, it was not by a long shot Mr. Goldsmith. The federal government still had a strong hand in the economy. It wasn’t just in the economy the federal government passed laws that changed civil rights in this nation and women’s rights. Those laws changed the dynamics of the work force.
We have not had pure capitalism since the advent of the Industrial Revolution. In the 70s and 80s you saw corporations changing how they managed resources and company stocks through the executive/management level of a corporation. They downsize the company and then redistribute the dividends to themselves and shareholders. Invest and growth took a back seat to downsize and redistribute.
There is not much of an invisible hand in the US economy any more as much as there is a visible hand. There is lot of people who will say it is government doing so but the reality is the executive level of corporations are the ones doing the most visible manipulations of resources. In doing so these executives have catapulted themselves into the 1% income group. Meanwhile the unchecked downsizing and redistribution by the corporate executive level will only acerbate the growing inequity, unsteady employment and reduce innovative ideas.
Your answer Mr. Goldsmith to get back to the era of pure capitalism and individualism as you see it is to elect more republicans and oust President Obama from office. You don’t have an answer Mr. Goldsmith you have an illusion of what was. I doubt very much that it is capitalism and individualism that you miss because what you described wasn’t even close.
Charles M. Reeder
Submitted by Virtual Newsroom