Ben Carson should be disqualified from the chase for the GOP presidential nomination based on his apparent ignorance about government’s role in managing the economy, including incentivizing markets, and encouraging capital flow to businesses and households. His website alone is indicative of his lack of preparation on the matter, with an apparent preference for promoting cultural values versus an economic plan that would benefit a broader number of Americans.
Dr. Carson has no qualms with regulating the financial industry. He believes de-regulation in the 1990s led to the meltdown in the financial markets experienced in 2007 and 2008. The problem with that perspective is that, while its populist bent may attract some voters, the premise that Wall Street’s faulty financial instruments and a failure to regulate them caused the economy to crash is a little too simpleton an approach and if policy were built on this premise, it would not serve to address the real problem in the economy.
That problem is that too many households were not diversified enough to absorb the impact of a declining economy. Households, as well as banks, should have been able to pass a stress test. Unfortunately, Dr. Carson prefers to add a spoonful of sugar to help the medicine go down.
The time constraints of tonight’s debate, unfortunately, may provide Dr. Carson enough cover to get away with not offering a proper economic plan.
- Ben Carson on Budget and the Economy. http://www.ontheissues.com