Reagan is Dead - Long Live Reagan

The Hacks on both sides of the political fence are saying one thing and one thing only about Barack Obama’s bid of the Presidency. He’s left wing.

Not only that, but he’s the most left-wing candidate for the Democrats since Carter, if not beyond.

While I don’t doubt his social liberalism, and many of us have read his notions of increased protectionism, something doesn’t quite fit right about this.

Richard Nixon’s daughter, one of Ronald Reagan’s speechwriters, Professor David Friedman, son of the late, great Milton Friedman and countless others who are of the Ronald Reagan free-market small-‘l’ libertarian-tribe are either backing Senator Obama, or working for him behind the scenes. I’ve heard many reports, outwardly played-down by the Obama machine for now, of the people who really have Barack’s ear right now.

These people were the men and women who were junior interns, working for the people who directly worked for Ronald Reagan back in the 80s. Now, many being middle-aged themselves, they seemed to have found a candidate that will bring their values and views back from the margins. They now have the ear of a new Ronald Reagan – Barack Obama.

But what of his protectionist policies?

Well let’s take this in generalised chunks. First of all, When Ronnie Reagan was campaigning, or trying to make any statement about social policy, he was always clear to give a brief nod and a wink (especially during election times) to the social conservatives. Did he really feel strongly about a lot of the things they did? No, not really. But what was the harm? He kept them onside, and was able to carry on a path of both economic freedom, and social freedom. A path of success for America.

Barack Obama has the opposite problem. His base are more than happy for him to talk about social freedom. Barack also is at home linking this to social mobility.

But his supporters are economically less inclined to hear about liberalisation. Like Reagan’s social conservatives, who wouldn’t be happy hearing Ronnie wax lyrical about abortion rights, equal rights for people regardless of sexuality, etc., the left-wing of the Democrats wouldn’t be so happy to hear their golden boy talking about why supply-side economics is the answer to so many of our problems.

But the people who will be shaping his decisions on matters of the economy DO understand the type of supply-side economy that works – they helped implement one very successfully in the 80s. Obama appears open-minded enough that he will see their vision through. I do feel – hell, I hope – that Obama will eventually feel completely the same way as they do. So many of his positive beliefs about the US seem like he would adopt the policies required for an economic boom.

And it’s not just because the likes of Colin Powell are hinting at their support of Obama, it’s all the people I named above, and more.

Reaganomic acolyte, the Republican Senator from Nebraska Chuck Hagel, is tipped as a possible Vice-Presidential candidate on Barack Obama’s ticket. Remember where you hear that first. That would be a true masterstroke. The pair of them could be in office for 4 terms. Hillary Clinton’s hopes of a shoe-in in 4 or 8 years time could be dead in the water if that happens.

Classical Liberal Professor David Friedman, son of the greatest (in my opinion) economist the world has ever season – the economic libertarian guru of Thatcher, Milton Friedman, points to Obama’s choices of advisers for further evidence of Obama’s libertarian economic direction. You don’t hire advisers like Jason Furman and Austan Goolsbee if you’re going to be increasingly protectionist.

Friedman suspects that Obama is sympathetic to school vouchers for example. A key demand for supporters of a free market in education, although the Illinois senator kept quiet about them while wooing Democratic activists in the primaries. He also points to how uncomfortable Obama is at compelling people to buy health insurance. The free market of choice, it seems, is better in Obama’s eyes.

Even high-ranking members of the Washington libertarian free-market think-tank, the Cato Institute are leaning more in favour of Obama. Brink Lindsey of the institute for example, is becoming increasingly more vocal in his support.

And finally, if nothing else, let’s think about this: Obama’s general main promise is to take on the fat, turgid, slow, incompetent, ineffective, public-sector-style Washington D.C., and replace it with a lean-mean, fast, competent, effective, competition-based, private-sector-style of D.C.

How can anyone with that attitude to public-sector reform REALLY believe the opposite when it comes to the economy?

I suspect – I hope – that the answer is simple. Obama will be the next Ronald Reagan. A social and economic liberator that will put us all back on Ronnie’s road to freedom and prosperity.

Come on Senator Obama. A nation, a world and a freedom-loving people expect.