Don Watkins — coauthor of Free Market Revolution and Equal is Unfair ( https://www.youtube.com/watch?v=vDvqK5X6LFg ) — has posted some some excellent comments on the GREAT John Allison for Treasury Secretary:

Trump is apparently considering the great John Allison for Treasury secretary. I don’t have a definite view about whether John should accept the position if offered. There are good arguments going both ways (and in any case I assume he isn’t going to base his decision on Facebook posts).

But one thing I do want to comment on: the parallels some are making to Alan Greenspan. There are certainly lessons we should learn from Greenspan’s career, but…

  • Greenspan took on an *illegitimate* job as the head of the Fed. Head of Treasury is legitimate.
  • How much Greenspan ever truly understood and valued Objectivism is debatable. With John, it isn’t.
  • Washington didn’t corrupt Greenspan. He actively sought out power and importance–whatever convictions he held always took a back seat. John’s achievements have come from living by his convictions.
  • The biggest problem with Greenspan is not that others blamed his failures on capitalism (and Ayn Rand)–it’s that *he* blamed his failure on capitalism.

Finally, I’ll just note that Trump’s failures will be blamed on capitalism no matter what. We can’t avoid that. We can only counter it.

 

 

Radicals for Capitalism

Subscribe to our free email newsletter.

You have Successfully Subscribed!