How Big Business Is Lining Up With Hillary (More “nudge” bull)

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Senator Hillary Clinton

Contributor
Total
Indivs
PACs
Citigroup Inc $782,327 $774,327 $8,000
Goldman Sachs $711,490 $701,490 $10,000
DLA Piper $628,030 $601,030 $27,000
JPMorgan Chase & Co $620,919 $617,919 $3,000
EMILY’s List $605,174 $601,254 $3,920
Morgan Stanley $543,065 $538,065 $5,000
Time Warner $411,296 $386,296 $25,000
Skadden, Arps et al $406,640 $402,140 $4,500
Lehman Brothers $362,853 $359,853 $3,000
Cablevision Systems $336,288 $306,900 $29,388
University of California $329,673 $329,673 $0
Kirkland & Ellis $311,441 $294,441 $17,000
Squire Patton Boggs $310,596 $305,158 $5,438
21st Century Fox $302,400 $302,400 $0
National Amusements Inc $297,534 $294,534 $3,000
Ernst & Young $297,142 $277,142 $20,000
Merrill Lynch $292,303 $286,303 $6,000
Credit Suisse Group $290,600 $280,600 $10,000
Corning Inc $274,700 $256,700 $18,000
Greenberg Traurig LLP $273,550 $265,450 $8,100

From OpenSecrets.org


 

And if you have any question where official Washington is in its general disposition one need only look at the secondary headline of the attached article.

“Both are looking for ways to make the nation richer by helping … ordinary workers.”

This is what passes for political journalism in some circles folks. Granted it is an editorial from a guy at Envest.

The article is pretty blatant in it’s call for crony capitalism. Of course this crony capitalism is shrouded in words like “climate” and “invest” and “virtuous cycle(s).” You see if the government just “incentivises” industry, that is if government takes money from tax payers and gives it to companies which do what certain people think are “good”, the world will sprout rainbows and the children of the world will join hands in a chorus of kumbaya.

You see big business and Hillary are just trying to help “ordinary workers.” 

Never trust anyone who talks about “nudging” business. (Cass Sunstein particularly should never be trusted.) This is a code word for central planners who think they are smarter than the market. (Which they most definitely are not.)

As the master FA Hayek would say, such “nudgers” suffer from the “pretense of knowledge.”

(From Politico)

It is a perfect example of using government not as a regulatory sledgehammer but as an exemplar of what Cass Sunstein and Richard Thaler “nudge” philosophy: small signals and slight changes by the federal government can alter trajectories in meaningful ways.

These three themes—wages, climate, and Wall Street—may seem unconnected but they all speak to middle-class needs and how businesses can be nudged as part of self-interest to meet them.  Clean energy, if it means tax subsidies for home solar panels, translates into lower energy costs for American citizens and massive capital spending for U.S. companies; higher wages augment the purchasing power of American consumers, which in turn should help businesses generate more revenue; ending short-termism arguably boost the long-term profitability of companies, which in turn may make them more able to pay workers more. As Walmart et al have already realized in raising wages, better to act first than wait until action is forced upon them.

Click here for the article.

ACC is a completely non-partisan organization. We do not support/endorse or oppose any candidate for office. We believe that both major parties are heavily influenced by special interests and will report on crony capitalism wherever and whenever we see it.