Admirable restraint

Reader comment on: CNBC Debate

Submitted by John Gillis (United States), Nov 10, 2011 17:24

The FoC editor exercised remarkable restraint in the straight reporting: "Mr. Romney said the Chinese were just keeping prices low until competitors went out of business, and that they plan to raise prices later."

It's shocking that a presidential candidate exhibits such economic illiteracy. This is the old anti-business canard of deliberately managing to lose money until you're the last one standing and then "making a killing". As if that were feasible! It has never worked over the long term in the past couple of centuries. For a Republican candidate who claims falsely to be for free trade, and claims falsely that he will do the right economic things because he was "in business", to fantasize that monopolies are practical, is indicative of his lack of understanding of how economies work. And it is dangerous foreign policy that can start a war.

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