FEE – Senator Warren is proposing “the wholesale expropriation of private enterprise in the United States, and nothing less.”
Wednesday, August 22, 2018
In an episode of the HBO comedy series Crashing, libertarian Penn Jillette offered this provocative opinion:
The most important revolution in human history, more important than agriculture, more important than writing, is the scientific revolution. The scientific revolution came down to these three words: I don’t know.
Jillette added, “No institution, no church, no king, no power structure had ever said in history, I don’t know.”
The Greek historian Thucydides put it this way: “Ignorance is bold, knowledge reserved.”
It’s hard to find a politician willing to say, “I don’t know.” Senator Elizabeth Warren is no exception. Her ignorance is bold. Recently she proposed The Accountable Capitalism Act. Under her proposed law, Warren and others in government will pretend to know much about that which they know nothing—running every large business in America.
The Accountable Capitalism Act
Writing in the Wall Street Journal, Senator Warren urges Americans to insist “on a new deal.” Under her Accountable Capitalism Act,
Corporations with more than $1 billion in annual revenue would be required to get a federal corporate charter. The new charter requires corporate directors to consider the interests of all major corporate stakeholders—not only shareholders—in company decisions. Shareholders could sue if they believed directors weren’t fulfilling those obligations.
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