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George Shay's avatar

You have correctly identified human nature as the culprit, as it is an all matters.

Having lived through those times, I can tell you that the reason George Bush lost to Bill Clinton was mainly because of his no new taxes pledge, being broken and as a result, Ross Perot coming in and taking more votes away from him than from Bill Clinton; in addition, Republicans laid down on Bush—a lot of them just sat out the election because of that broken promise.

As to the triumph of the Soviet Union, it was a quiet triumph; people including me couldn’t really believe their eyes and ears as they saw the Soviet Union just “Wither Away”, but not in the way Mark anticipated; though it was a triumph of capitalism, free markets, and free people, it was somewhat reminiscent of what happened to Winston Churchill after the incredible triumph against all odds—after World War II the people focused on their own financial circumstances, and demanded that the state provide them with things like national health, and move to socialism much to the detriment of the empire.

Clinton came in, promising the healthcare fix much as the socialists did in the UK; that of course, never happened, which was shocking— in the event, Clinton did end up balancing the budget, which was amazing, and also provided one of the biggest economic booms in my lifetime, which I believe was his benefiting from the Reagan Revolution and, of course, the digital transformation.

The irony is Clinton couldn’t get elected dog catcher, even nominated in the current DSA-dominated Democratic Party. He was a deficit hawk, a law-and-order guy, and not particularly interested in raising taxes because bullshit already done that dirty work for him.

Charles Hooper's avatar

I did have a high school teacher who taught economics, law, and business and he told us, in the mid-1970s, how good things really were. He would read books and tell us the general insights from the books. I thought he was unusual then and I now think he was even more unusual.

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