By William K Black
Eduardo Porter began by studying physics but decided not to complete his studies and pursue a career in that field in favor of becoming a journalist. He worked for the Wall Street Journal before joining the New York Times, where he writes a periodic column. His primary interest is now economics. I was intrigued by a recent column he did entitled “The Folly of Attacking Outsourcing.”
By William K. Black
Murray’s Divine Rights of Plutocrats
Charles Murray believes that the wealthiest person should be made President of the United States. “Who better to be president of the greatest of all capitalist nations than a man who got rich by being a brilliant capitalist?”
If the standard is wealth makes right, then the wealthier the person, the more appropriate that he should be made President. There is no need for elections or fixed terms of office under this standard of political governance. Whoever tops the Forbes list becomes President – that will create the appropriate competitive incentives. Wealth being the full measure of a man there is no need for that the wealthiest person to be a U.S. citizen. Under the Murray governance standard Mitt Romney’s problem is that he is not wealthy enough to be our ruler. Carlos Slim can run all of North America south of Canada.