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robertreich:

ROMNEY’S GOAL FOR THE COMPANIES BAIN ACQUIRED: “HARVEST THEM AT SIGNIFICANT PROFIT”

Here’s a video of Romney in his early years at Bain, explaining his purpose in  acquiring companies was to “harvest them at significant profit.”

No one should be surprised. After all, Bain Capital wasn’t in the business of creating jobs. It was in the business of creating profits.

The two goals aren’t at all the same — as  Americans whose jobs have been eliminated or whose wages and benefits have been cut know all too well.

For years, higher corporate profits have come at the expense of fewer jobs and lower wages. Business leaders and financiers have been “harvesting” like mad, leaving most Americans behind in the dirt.  

Romney’s main selling point to voters is his so-called “business experience.” Yet America can’t afford this sort of “business experience” in the White House.

To the contrary, we need someone who doesn’t see the economy as profits to be harvested, but as people who need more and better jobs.

In 2012 that person is Barack Obama, not Mitt Romney.

So … Romney has a way with words, right? It shows he really cares about the little people.

I fail to see how this is controversial or damning at all. Companies aresupposedto be in it for profit. Jobs are a social good, but they are a by-product of a business run well—the more efficiently, the better for the overall economy.

As Milton Friedman supposedly (or apocryphally) said: "Why not use spoons?

Tags: Notes
posted 9 / 27 / 2012
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    I’ve heard elocuate what I’ve been thinking.
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