I’m a big believer in American exceptionalism. We’ve always had a great combination of the ability to pull together and value the individual.
When it comes to the economy, we need to value the capabilities of the individual. Only rugged individualism will get us through it. In that sense, Hoover was right and FDR was wrong. There is no “we” in capitalism. There is in patriotism, however.
Therefore, “we” haven’t lost $11 trillion of wealth in this recession. If we look at it that way, that means our country is all about money. That’s how we define our greatness.
Read the whole post here.