Jimmy Pethokoukis: Obama should be pro-market, not pro-business

100% in agreement:

Yet while a pro-business agenda may intersect at points with a pro-market one, they are not the same thing. Pro-market public policies make markets function fairer and more efficiently for everyone. They encourage competition and “creative destruction” and entrepreneurial capitalism. Pro-business policies often shift taxpayer money and other government goodies to favored companies, raise barriers to entry and otherwise defend the status quo.

Business, like other special interests, seeks rent-seeking gains while avoiding competing for customers in the marketplace.  This concept applies to business or any other special interest, such as labor unions and environmentalists.  Only the customers and the thing being “sold” changes.  In business, as in sports, competition is what pushes people to find new and better ways of doing things.  As a result, we get better products and services, often at lower prices.


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