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James K. Glassman: how did liberal economics manage to lose the argument about the recession?
How could you misplay this hand? After all, until 2008, “cutting top income tax rates in half, reducing regulatory burdens, and spreading free trade seemed to have produced significant prosperity and remarkable stability. . . Inflation, interest rates, and unemployment were tame. “Then, suddenly, an asset bubble in real estate exploded, the growth and stability vanished, and the United States suffered its worst economic misery in (take your pick) 34, 53, or 71 years. So you would expect that the American public, following President Sarkozy, would see the recession as a severe setback—or even a death blow—to conservative economic policies that were aimed at limiting the power of government and liberating the private sector. “You would have expected that, and you would have been right—but only briefly. Since the beginning of 2010, a surprising reversal has occurred. Rather than supporting and encouraging government intervention to mitigate an economic calamity caused by “profit-oriented thinking,” Americans have come to believe that government has failed to fix the problem and may, in fact, have made it worse. Now it is liberal, not conservative, economic policies that are suddenly in jeopardy.” Jim Glassman’s explains this astonishing turnaround in a new piece published simultaneously in The Wall Street Journal and the September Commentary magazine. –Sam Schulman
GEORGE W. BUSH PRESIDENTIAL LIBRARY AND MUSEUM
As the 13th presidential library, the Bush Library and Museum promotes an understanding of the American presidency, examines the specific time in history during which President Bush served, and provides access to official records and artifacts from the Bush Administration.
SHAPING THE FUTURE
THE GEORGE W. BUSH INSTITUTE
The Bush Institute is an action-oriented, nonpartisan policy organization that cultivates leaders, fosters policies to solve today’s most pressing challenges, and takes action to save and change lives. Our work is inspired by the principles that guide President and Mrs. Bush in public life.Full Bio
How Trade Spreads Holiday Cheer
It is projected that the average American household will spend more than $1,000 during the holidays this year.
Deporting Salvadorans May Lead to Economic Decline
We should think carefully about a policy whose major impacts are likely to be reductions in employment and economic activity here at home, and increased instability and lawlessness along our borders.
Bush Institute's Laura Collins Talks Immigration on Good Morning Texas
Last week, Deputy Director of Economic Growth at the George. W. Bush Institute Laura Collins spoke with Good Morning Texas about immigration myths. During the interview, Collins had the opportunity to set the record straight and address common misconceptions about legal immigrants living in America today. The segment was inspired from facts released earlier this fall by the Bush Institute in the third edition of America's Advantage: A Handbook on Immigration and Economic Growth. Watch the full Good Morning Texas interview here.