Former Bush speechwriter and current Washington Post columnist Michael Gerson reminds us of the "recession's hidden virtues...Times of economic stress," he writes, "can also be times of cultural renewal."
"During an economic crisis, Americans return to a language of morality. Perhaps excess and recklessness are vices that deserve social stigma. Perhaps frugality and prudence are personal virtues as well as practices that prevent economic collapse. Perhaps there is a distinction between securing our needs and being dominated by our wants...
...But capitalism may be self-correcting in this area, as it is in many others. A recession causes suffering that can overwhelm hope. It can also lead to the rediscovery of virtues that make sustained prosperity possible -- and that add nonmaterial richness to our lives. Sometimes grace can arrive through an unexpected door."
The National Review agrees:...But capitalism may be self-correcting in this area, as it is in many others. A recession causes suffering that can overwhelm hope. It can also lead to the rediscovery of virtues that make sustained prosperity possible -- and that add nonmaterial richness to our lives. Sometimes grace can arrive through an unexpected door."
"Recessions are part of capitalism. They happen every so often...Recessions are therapeutic. They cleanse excess from the economy. Think about excessive risk speculation, leverage, and housing. Recessions are curative: They restore balance....
Note that while most suffering is good for the soul, this does not apply to certain people: "On the other hand, domestic corporate profits are down 20 percent from their peaks of late 2006. Since profits are the mother's milk of stocks, businesses, and the economy, we will need to see profit improvement..."
Shame on the democrats and the efforts to end this soul-cleansing, culture-renewing second depression. And shame on them for pretending that they are helping the poor. After all, in the words of Discovery Institute co-founder George Gilder: "The poor, most of all, need the spur of their own poverty."
Note that while most suffering is good for the soul, this does not apply to certain people: "On the other hand, domestic corporate profits are down 20 percent from their peaks of late 2006. Since profits are the mother's milk of stocks, businesses, and the economy, we will need to see profit improvement..."
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