Hassett challenges Obama on Creative Destruction

Obama and his team seem sharply opposed to the view that creative destruction is a valuable economic force. They seem happy with what might be called destructive destruction -- the obliteration of value and wealth without any resulting positive change.

Kevin lists banks, automakers, taxes, and cardcheck. He hits pretty hard, but is it unfair?

Most valuable, I think, is his dispensing with the claim that Obama is a socialist. There is no threat of socialism, any more than there is a failure of capitalism, and I think the sooner people move past that provocotaive language, the better. The 21st century is all about cometing forms of capitalism. State-dominated capitalism is the dangerous temptation we face.