Tuesday, September 6, 2011

Will Obama admit his policies are failing as Lenin once did? Will he declare a New Economic Policy?

After Lenin seized power in the USSR in 1917, he instituted a repressive policy of seizing industry, farms, banks and almost all productive enterprises (without compensation), a policy called “War Communism” (essentially communism as we know it today).  It was an unmitigated disaster.  There were famines, diseases and a general breakdown in production.  Because of these failures, in 1921 he ordered a major change called the New Economic Policy (NEP) which allowed significant private ownership for small business and gave peasants a share of their output. This rapidly improved the economy that had been devastated by WWI and his earlier policies.  I am definitely not a fan of Lenin, but he had the wisdom to realize his original policies were unworkable.

With the miserable failure of President Obama’s jobs program in the past two and a half years, will he have the courage of Lenin to admit his policies are a mistake?  Will he see the wisdom of capitalism and its ability to generate jobs?  Or will he wallow in his ideology and watch the country tank, while blaming his opposition?

I’m not optimistic.

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