The American presidential election selects for both personal character and track record. It is amazing what an ordeal the candidates are going through. Their character is tested over and over again on all kinds of questions. Take the question on the Florida CNN debate on how they would describe their wife. Quite different answers!
So, Mitt Romney won comfortably last night. What irritates me is that most pundits describe him as dull and as the default candidate. I have heard him speak on some six 1hour 50min effective time debates by now. Personally, I think he stands a good chance of beating Obama and that he stands for the right America, the one I like and the one that makes me agree with Romney: “Believe in America”. America is indeed still the hope for mankind as I know it. Romney actually says this himself now and then.
Interestingly, Romney with his whole being stands for an economic system that is currently under “siege”, as someone just said. It is liberal capitalism on a religious basis. China is state capitalism, autocracy and non-religion. Romney actually stands tall and says he does not like autocracy when even the liberal The Economist is wavering. That is not dull. Rather quite exiting! This is a top 5% graduate from Harvard Business School and former governor that wants to change how Washington operates and he might just do that.
The Economist is running a debate on liberal capitalism versus state capitalism and they are getting a frightenly even result, 40/60 for the proposition that state capitalism is a viable alternative to liberal capitalism, respectively. Someone at the journal said that they find it easier to do business with the Chinese than with the Germans so the position would be understandable in this light. Yes, the City of London could benefit. However, this is important for the future if Romney wins.
Ian Bremmer who argues for liberal capitalism says that state capitalism is not viable because it is a politically governed adventure that uses the economy for its purpose. The rules of the game would change completely and they operate currently without transparence unlike Norway. I would worry for the R&D in such an economic system that is less natural.