Thomas Frank, author of “What’s the Matter with Kansas?” which focused on that state’s switch from a blue state to a red one, has an interesting op-ed on Gov. Mark Sanford in The Wall Street Journal. Here’s a teaser before you head on over:
Mr. Sanford is transfixed, for example, by the perfidy of big government. Deficit spending, the issue of the day, has always struck him as fantastically evil, and in his congressional period he even quoted an early 19th century Scottish theorist on why government spending can force a democracy to collapse. Social Security is another bad idea, he argues in his book, and it needs to be replaced by personal retirement accounts.
Business, on the other hand, is an institution with almost magical powers of beneficence: were we to entrust our retirement savings to “conventional investments” instead of government, Mr. Sanford wrote in 2000, we could expect returns of 8% a year. (And that’s why the Dow stands well above 20,000 today.)