Mitt Romney’s statement yesterday that “corporations are people” briefly lit up the Left and triggered an immediate DNC attack video. While the news cycle has moved on, the issue is worth revisiting because it reveals the shallowness of the populist Left’s economic thinking.
The bottom line is simple: Mitt Romney was right, in every way that matters.
Critics complain that corporations are “hoarding not hiring,” but ask yourself this: Wouldn’t you want to work for a corporation that has the cash reserves to not only weather economic storms but also invest in future products or innovation? Aren’t real people benefiting even from “hoarding?”
The quest for jobs is really a quest for sustainable corporate health. Decades of failed socialist experiments should have convinced us all that governments can’t hire nations into prosperity. We can, however, create the conditions for entrepreneurs (people) to create corporations that employ workers (people) to make products that consumers (people) want or need. And if some CEOs get rich in the process, what’s wrong with that?