National / International News

‘Economic patriotism’: Rhetorical, not economic, policy

Marketplace - American Public Media - Wed, 2014-07-23 11:58

Recently, President Obama has been traveling around the country, trying to shift focus back onto the economy. We talked to him about that a few weeks ago, at the White House.

You may have noticed a refrain in some of the president’s most recent speeches. Here is an example from a speech he delivered in Denver: “That’s what makes this country great – a sense of common purpose and patriotism, an economic patriotism.”

President Obama may have cribbed that term from a speech by former Ohio Gov. Ted Strickland at the 2012 Democratic National Convention. He was talking about the Republican nominee for president, Mitt Romney.

“Mitt has so little economic patriotism that even his money needs a passport,” Strickland said. “It summers on the beaches of the Cayman Islands, and winters on the slopes of the Swiss Alps.”

Obama used the phrase in a TV ad soon after, and it became the title of the president’s economic plan. So, almost two years later, how does Strickland define “economic patriotism”?

“Companies, corporations, CEOs need to understand that this country has provided them, and continues to provide for them, the means to be successful,” he says.

“Economic patriotism” is more of a rhetorical device than an economic theory. There is no textbook definition. President Obama has used it to talk about infrastructure investment. Treasury Secretary Jack Lew used it in a letter to lawmakers about corporate taxation.

Economic historian Gavin Wright, who teaches at Stanford, suggests “economic patriotism” is a broad brush. It refers to appeals to make economic behavior or economic policy based on “American values.” And, he adds, that has happened throughout history.

“During the Cold War era, I don’t recall hearing the term ‘economic patriotism,’ but it was more or less taken as a given,” Wright says.

In the 1790s, Alexander Hamilton asked the government to support manufacturers. It was an appeal to a special interest group, Wright notes, “but he also thought that this would be essential for the credibility of the American economy, the American nation.”

The phrase “economic patriotism” has been used by Democrats and Republicans, including Pat Buchanan and Amb. John Bohn, who ran the Export-Import Bank during the Reagan era. Bohn defines “economic patriotism” as understanding our economic policy as it compares to the economic policies of other countries.

“We need to have a kind of partnership between the government and the private sector if we are going to maximize our economic growth,” he says.

Over these last few weeks, the phrase has attracted criticism. Wright summarizes one complaint: “There is a market out there, and the market operates and reaches its outcomes, then the government wants to intervene and change that.”

So, Wright says, the debate over the definition of the term “economic patriotism” is really a proxy for a much bigger debate over the role government should play in the economy.

 

Arrests made after eBay Stubhub thefts

BBC - Wed, 2014-07-23 11:56
Arrests are made in the UK, US, Canada and Spain after a scam involving e-tickets for Elton John concerts and other shows sold via Stubhub.

A Doctor Leading The Fight Against Ebola Has Caught The Virus

NPR News - Wed, 2014-07-23 11:56

Hailed as a "national hero," Dr. Sheik Umar Khan has treated more than 100 Ebola patients in Sierra Leone. Now the 39-year-old is fighting for his life in an isolation ward.

» E-Mail This

VIDEO: My Glasgow

BBC - Wed, 2014-07-23 11:52
Danny MacAskill rides on Glasgow landmarks, including a breathtaking stunt on the iconic Finnieston Crane.

Baby P boss awarded £680,000 payout

BBC - Wed, 2014-07-23 11:41
The former head of Haringey children's services Sharon Shoesmith is awarded almost £680,000 following her unfair dismissal claim.

Paedophile singer appeal bid refused

BBC - Wed, 2014-07-23 11:34
Judges throw out an appeal by paedophile rock star Ian Watkins to reduce the length of his jail term for child sex offences.

Coal mine employee buyout 'shelved'

BBC - Wed, 2014-07-23 11:29
An employee buyout to save one of England's last remaining deep coal mines is shelved, the National Union of Mineworkers says.

Boxer 'let down' over Games ruling

BBC - Wed, 2014-07-23 11:18
A Welsh boxer refused a Commonwealth Games place over her involvement in kick boxing says she is disappointed in the sport's authorities.

Town ban 'violates golfer's rights'

BBC - Wed, 2014-07-23 11:15
A ban preventing a golfer from returning to his home town after a car crash which killed a lecturer has been ruled unlawful.

GM Recalls Nearly 718,000 Vehicles For 'Varying Safety Issues'

NPR News - Wed, 2014-07-23 11:13

GM says no deaths and only two crashes have been linked to the recalls. While many of the vehicles have relatively minor issues, thousands of others have potential problems with their steering.

» E-Mail This

Colombian army kills ELN rebels

BBC - Wed, 2014-07-23 11:11
The Colombian armed forces kill eight rebels from the left-wing National Liberation Army in an operation in eastern Arauca province.

Davies completes Tottenham switch

BBC - Wed, 2014-07-23 11:08
Swansea full-back Ben Davies and goalkeeper Michel Vorm join Tottenham as Gylfi Sigurdsson makes Liberty Stadium switch.

Palestinian's Death Provokes Israeli Debate On Defining Terrorism

NPR News - Wed, 2014-07-23 11:07

Israel says the recent killing of a Palestinian teenager was an act of terror and his family is eligible for state benefits. This doesn't sit well with one group that assists Jewish victims of terror.

» E-Mail This

Mexico back on Formula 1 calendar

BBC - Wed, 2014-07-23 10:58
Mexico returns to the Formula 1 calendar after a 23-year absence in 2015 at the Autodromo Hermanos Rodriguez in Mexico City.

Fur seals feel climate impacts

BBC - Wed, 2014-07-23 10:52
Changes in the Antarctic climate are showing up in the fur seal population, say scientists who have studied the animals for 30 years on the British Overseas Territory of South Georgia.

Suspected Auschwitz guard dies in US

BBC - Wed, 2014-07-23 10:47
Johann Breyer, 89, has died awaiting extradition to Germany amid allegations he committed Nazi war crimes during World War Two.

Small Business remains hopeful during slow season

Marketplace - American Public Media - Wed, 2014-07-23 10:37

As the economy continues to grow and unemployment drops to 6.1 percent in the U.S., we check in with a small business owner to see how things are on the ground level.

Olalah Njenga is the CEO of YellowWood Group based in Raleigh, North Carolina and says her business is doing okay, but it gets a little slow during the summer.

"We had a little bit of a bump from June to July and I think that’s pretty indicative of what’s happening to the general morale of small businesses right now," Njenga says. "I think that optimism is there. I’d like to say that we’ve hopeful but, you know, across the area of the business, hope doesn’t get employees paid."

In terms of hiring, Njenga says it’s been difficult to hire the right person to join the core team at YellwWood Group:

"And I’m not alone," she says. "There’s a lot of small businesses out there looking for that superstar person who is flexible and creative and only needs to be groomed against the values and the culture of the company, but they come in the door with a really nice set of skills."

Njenga says she stays optimistic and is excited for what’s in store for the future of her business.

"We have things in the works right now that we are productizing one of our flagship services," she says. "So we’re excited that we maybe able to take something that has traditionally been of service and translate it into a product. And it is launching this quarter."

Does Your Dog Feel Jealous, Or Is That A Purely Human Flaw?

NPR News - Wed, 2014-07-23 10:32

Dog owners don't doubt that their pooch has feelings. But scientists aren't so sure. An experiment found that dogs act upset, dare we say jealous, when their owners ignore them for a stuffed animal.

» E-Mail This

PM won't pay back tennis donation

BBC - Wed, 2014-07-23 10:25
David Cameron rejects calls to pay back a donation to the Conservatives by the wife of a former Putin minister, insisting she was not a "crony" of the Russian president.

Plane Crash In Taiwan Kills Dozens, Leaving Some Survivors

NPR News - Wed, 2014-07-23 10:15

A Taiwanese domestic flight that was attempting to land in bad weather related to a strong typhoon crashed near the runway Wednesday on an island off Taiwan's western coast.

» E-Mail This

ON THE AIR
Radiolab
Next Up: @ 11:01 am
Performance Today

KBBI is Powered by Active Listeners like You

As we celebrate 35 years of broadcasting, we look ahead to technology improvements and the changing landscape of public radio.

Support the voices, music, information, and ideas that add so much to your life.Thank you for supporting your local public radio station.

FOLLOW US

Drupal theme by pixeljets.com ver.1.4