Today the President essentially reversed the ban on the federal funding of stem cell research. In doing so Mr. Obama stated, “Promoting science is about letting scientists like those here today do their jobs, free from manipulation or coercion, and listening to what they tell us, even when it’s inconvenient – especially when it’s inconvenient.”
Sadly, Mr. Obama cannot see that such a philosophy should be applied consistently across all realms of human endeavor and, especially at this time, in the realm of economics. Promoting a consistently growing economy based upon a sound medium of exchange requires letting the scientists and engineers of capitalism (businessmen and women) do their work, free from manipulation or coercion, and listening to what the market tells them and us, even when its inconvenient – especially when it’s inconvenient. Ham stringing the marketplace with irrational notions about fairness doctines, bailing out failing financial institutions, “saving” selected industries that are bloated from decades of uinon manipulations is akin to requiring that phlogiston research be continued because there are people whose livlihoods depend on it..
In order for capitalism, the unique social system that promotes freedom, human progress, individual liberty, and justice far better than anything devised to date, to function (let alone be optimized) its premise of intellectual and market freedom (and honesty) must be released from the same manipulation and coercion that Mr. Obama hails as critical for science.
Is there any possibility that this president will connect the proverbial dots? Unlikely. Just as President Bush was incapable of governing with a consistent philosophy, Barack Obama appears just as conflicted. Time will tell, but I for one am not holding my breath…