A Comment About

An Alternative to the Wall Street Bailout

September 24, 2008 - 12:00 am - by Arnold Kling
Cowcup
2008-09-24 06:53:56

When John McCain said he didn’t know about economics. He exhibited a common sense among people, that economics jargon is horrible and better left in the hands of experts. A very dangerous common sense for Democracy.

One thing that FDR did that was extremely good for the Democracy was his common sense explanation of the mess of 1929–1932. He was wrong in a few ways. But the use of people’s language was tremendously effective. Reagan knew that. Almost every good president knew that.

When Palin asked the question—how will tax increase help her sister opening a small business—she knew that too. At this moment, I wish McCain and Palin can take the chance, explain the mess in ordinary language. It’s not really that hard to explain to ordinary folks.

The jargon, as the bailout, is not needed. Actually, they are the causes.