The Corner

Economy & Business

‘Markets Exist To Serve People’

Traders work on the floor of the New York Stock Exchange in N.Y., December 20, 2018. (Brendan McDermid/Reuters)

I agree with what Charlie has written below, but would add and emphasize: The sentence “Markets exist to serve people” does not really mean anything. It has no meaningful content. Markets are made up of people interacting with other people. They don’t exist to serve turnips or interstellar dust or sublimity. Just people. The same goes for empty-headed slogans such as “People over profits.” Who the hell do profits accrue to, if not people? Honeybees? Badgers? Monkeys? Profits go to people. Otherwise, they aren’t really profits.

“But I don’t like those people!” is the unspoken addition. Why not just say so? “We think that the people who invest and save shouldn’t make the level of returns they currently make on their investments and savings, and that knocking them down a peg would help the Benighted Common Man because . . . well, hell, we haven’t actually figured that part out yet, but we sure as hell have a few things to say about the calculation of GDP and how that goes over in Steubenville. Real America!”

It’s easy enough to say. Harder to defend. I don’t think this mush is going to end up being very helpful to anybody.

Most Popular

White House

Trump and the ‘Racist Tweets’

What does “racist” even mean anymore? Racism is the headline on President Trump’s Sunday tweets -- the media-Democrat complex assiduously describes them as “racist tweets” as if that were a fact rather than a trope. I don’t think they were racist; I think they were abjectly stupid. Like many ... Read More
White House

The Trump Steamroller

As we settle into high summer and the period of maximum difficulty in finding anything to fill in hours of television news, especially 24/7 news television, two well-established political trends are emerging in this pre-electoral period: The president’s opponents continue to dig themselves into foxholes that ... Read More
Politics & Policy

Ilhan Omar Is Completely Assimilated

Beto O’Rourke, the losing Texas Senate candidate who bootstrapped his way into becoming a losing presidential candidate, had a message for refugees who had come to America: Your new country is a hellhole. The former congressman told a roundtable of refugees and immigrants in Nashville, Tenn., last week: ... Read More

We All Wanted to Love the Women’s Soccer Team

For the first time in my life, I did not root for an American team. Whatever the sport, I have always rooted American. And if those who called in to my radio show were representative of my audience, many millions of Americans made the same sad choice. It takes a lot for people like me not to root for an ... Read More

The ‘Squad’ Gives a Gift to Donald Trump

On Sunday, Donald Trump gave the Democrats a gift -- comments that indicate he thinks native-born congresswomen he detests should “go back” to the countries of their ancestors. On Monday, the four congresswomen handed Trump a gift in return, managing to respond to the president’s insults in some of the most ... Read More