Please, No Protectionists!

In an editorial, the San Diego Union expresses concerns about Barack Obama’s economic views:

With his opposition to many trade deals and his Wal-Mart bashing, Obama has tentatively allied himself with [protectionists], all the while depicting himself as a thoughtful centrist. But there is nothing thoughtful about ignoring the vast evidence that free trade and relatively unfettered capitalism have made America prosperous—or arguing that a company whose low prices help millions of families make ends meet and which has no trouble filling jobs should abandon its business model and become an adjunct welfare agency.

The two parties shouldn’t be dividing over the worth of free trade or capitalism. But Republicans ruled and Democrats were scrambling for a role to play when the Great Depression hit in 1929. The Democrats’ rise to power—the party dominated America from 1932 to 1968, and continued to dominate Congress for an additional 26 years—stemmed from its identification with government as a force to counter capitalism’s failings. So Democrats have a tough time with capitalism. Government is good; business is bad.

Now that Democrats are back in power because Bush failed to fight the Iraq war effectively, the heart of the party wants to return to its anti-business roots. Any free trader will struggle in the Democratic primaries. Meaning it’s quite possible than whoever wins the Democratic presidential nomination will be—in contrast to Bill Clinton in 1992 (pictured)—unqualified to manage the U.S. economy.