26 March 2009

It's called the *Wall Street* Journal for a reason


How the WSJ sees the world: From left: A potential unionization
threat; a crusader for private enterprise

For being a newspaper that focuses especially on business, the Wall Street Journal seems to forget that a business is not solely the management thereof. Take the following bit from the paper's own Daniel Henninger in a
recent column:
True socialists at least think about markets so they can criticize them. The Democratic Party's leadership doesn't stir to even that level of engagement. In the House, Senate and some corners of the Obama White House, the party is acting as if the marketplace was the world of an alien tribe, which it has to control through intimidation or demands for protective tribute (read: campaign contributions).
Our poor correspondent is either woefully imperceptive or hopelessly elitist. No other explanations can be offered for his apparent belief that members of Congress, most acting in excessively theatrical fashion to mollify the very real anger of their constituents, distrust the very private enterprise to which the senders of the angry emails, letters, and phone calls belong. So we'll just have to forgive him for either (1) failing to wrap his head around the details of the relevant Congressional proceedings; or (2) equating the marketplace exclusively with Wall Street executives rewarding themselves for losing billions of dollars in wealth. For my part, I'm guessing it's elitism and that those groups which comprise a large private sector firm apart from top management--manual labor, clerical workers, lower and mid-level management--don't fall under Mr. Henninger's lexical entry for private sector. They instead fall under his entry for "unionization, at risk of", among others.

But our Mr. Henninger doesn't stop there. To save myself some sleep, I'll focus on just one more of my favorite absurdities from his snarkfest:
Put it this way: Imagine any of this generation's Democratic establishment taking a job at Procter & Gamble in Cincinnati as a middle-manager responsible for a division of employees and its annual profit and loss. It is wholly inconceivable. Or helping an owner of an auto-parts company manage through a real crisis. They wouldn't have a clue.
Is he really making me do this?

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