Private Interests and Public Policy: Romney, Capitalism And The American Culture Of Entrepreneurship
Mitt Romney is a cold-hearted capitalist. That’s the message that the Obama campaign wants to convey. But the entrepreneurial spirit is deeply embedded in American culture.
Whenever Bain Capital, Romney’s investment and consulting firm, enters political discussions, Obama is on the attack. The president’s strategy in discussing economic issues is to cast doubt on Romney’s leadership qualifications and cater to those who have become disenchanted by the machinery of capitalism.
According to the Obama rhetoric, Romney is the vampire who sucked the life blood out of the companies he worked with during his time at Bain Capital. In a new video produced by the Obama campaign, Romney is accused of driving a steel company into bankruptcy: 750 employees were laid off while Bain Capital pocketed a healthy profit. Obama later specified his criticism: the logic of the private sector did not compare to the demands of the presidency.
It should have been a great rebound opportunity for Republicans: after all, Romney had served as governor of Massachusetts for four years - when Obama ran for president in 2008, the only political office he had held was in the legislative chamber as a senator. But a second look reveals the limits of a Republican rebuttal: Romney’s achievements as governor are highly controversial.