Krugman: Business Is Not Economics

[ProSense]

Business Is Not Economics

President Obama gets this exactly right:

When some people question why I would challenge his Bain record, the point I’ve made there in the past is, if you’re a head of a large private equity firm or hedge fund, your job is to make money. It’s not to create jobs. It’s not even to create a successful business – it’s to make sure that you’re maximizing returns for your investor. Now that’s appropriate. That’s part of the American way. That’s part of the system. But that doesn’t necessarily make you qualified to think about the economy as a whole, because as president, my job is to think about the workers. My job is to think about communities, where jobs have been outsourced.

A country is not a company — and it’s definitely not a private equity firm.

And here’s the thing: Romney is running for president entirely on the basis of his business success...Once the Bain record becomes a liability instead of a strength, there’s nothing there.

http://krugman.blogs.nytimes.com/2012/07/13/business-is-not-economics/

"Once the Bain record becomes" a potential felony, Republicans will say, "look over there!"

Move along, nothing to see here: http://www.democraticunderground.com/1002941371

[n2doc]

1. In cartoon form:

[KT2000]

2. If the US was a private equity firm

is a simple way of putting it for the voter.