Alas, the monopolizers don’t see it as a curse. Before he became Treasury Secretary, Timothy Geithner (by his own admission) failed to pay the United States Treasury the taxes he owed because he couldn’t follow the yes/no prompts of elementary TurboTax software. Undaunted, by early 2009, he and President Obama, two men with no business management experience whatsoever, who have never created a nickel of wealth between them, were “managing” more money than any individuals anywhere on the planet have ever done. Fans of Big Government take it for granted that Obama, Geithner, and a handful of other guys can “run” the financial sector, and the auto industry, and the insurance industry, and the property market, and health care, and even the very climate of the planet. The Barackracy assume that a few clever people in Washington can direct trillions of dollars more productively than the companies and individuals from whom they confiscated it. There are many people who can run businesses worth a million dollars. The ability to run a billion-dollar corporation is the province of very few individuals. The skill-set required to run a multi-trillion-dollar enterprise is unknown to human history.
In Justice Marshall’s words:
Industrial power should be decentralized. It should be scattered into many hands so that the fortunes of the people will not be dependent on the whim or caprice, the political prejudices, the emotional stability of a few self-appointed men. The fact that they are not vicious men but respectable and social minded is irrelevant.
In 1948 Marshall was worried about steel. But the dominant industrial power of our time is government. And it is because of the government monopoly that “the fortunes of the people” are dependent on “the whim or caprice” (not to mention “the emotional stability”) of a small number of all too like-minded individuals.
You can see where power lies in the very landscape: go to a steel town six decades after Marshall’s warning. The burg’s shot to hell. The handsome Victorian homes on the tree-lined avenues are worn and crumbling, with cracked clapboards and sagging porches, and cheaply partitioned into low-rent apartments. The railroad halts that sent the products of American industry across the nation and around the world are dead, their depots converted into laundromats and pizza joints or, worse, “community centers,” with the track removed and its weed-strewn path redesignated as a “heritage trail.” Where do wealth and power gravitate today? In 2009
Washington, D.C., has become the favorite area for wealthy young adults, with the nation’s highest percentage of 25-34 year-olds making more than $100,000 a year.7
You don’t say! Now I wonder why that would be. Of the fifty counties with the biggest percentage of young high earners, sixteen were in the D.C. area.
Of the top ten, only two were not near either Washington or a state capital.8
Reuters filed this revealing analysis in its “lifestyle” section. Which makes sense. The easiest way to a “lifestyle” is a government job. The following year, another survey (from
What matters in the America of the twenty-first century is proximity not to industry or to wealth creation but to government.
