Friday, July 22, 2011

Rolling the Dice

Some right-of-center folks are making a big deal out of Democratic affiliated businessman Steve Wynn, a casino and resort developer, complaining about Obama's affect on the economy.

This is big for the right-of-center crowd, because it feeds the Democrats-are-anti-business narrative with the gasoline of they even do it to their own business leaders!

Taking a reasonable step back, I'll repeat here what I said in the comments at Peach Pundit.

I think Presidents can have much more than a negligible impact on the American economy. I also think that the President’s imact (sic) is only one part of a massive, chaotic whole, dictated directly and indirectly by situation, state policies, municipal and local policies, technology, past policies at all levels, culture, the spending habits of the American people, the spending habits of small business, the spending habits of big business, and the lending practices of banks. I think the expectation that an American President can control or impact all of that to the point where they “own” the economy is nothing short of unhelpful oversimplification.

Because if the economy is getting worse, how is it that so many investors and entreprenuers are opening up (or trying to open up) shop in New Orleans, maybe the most anti-free enterprise municipality in North America? Why is it I can’t get a seat at Southern Soul BBQ, Sal’s Neighborhood Pizzeria, or Crabdaddy’s on St. Simons Island because the lines are out the door? Sanctuary Cove in Camden might have had to close down when the bubble burst, but chose instead to bottom out their prices and offer killer deals; now they’re probably the best golf value in Coastal Georgia. Wynn’s political affiliation doesn’t matter one whit – he’s angry because there isn’t a market for what he’s selling where he wants to sell it at the price he wants to sell it for.

Emphasis added.


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