In conversation I have been criticized for placing too much importance on economic policy over other domestic programs and foreign policy.
I am guilty. But we can not have wealth to spend on public programs if we do not have a strong economy to generate the wealth. It seems to many that the money just falls from the sky. Economic policy struggles to balance the public need with the incentives that moves a private economy.
Even FDR who was demonized as a socialist understood that the federal involvement to stimulate the economy should restore the public confidence in capitalism. As much as his programs involved the federal government in our economy, he did not advocate socializing our private markets.
And our foreign policy is influenced by our economic strength. Even WWII was won as much in our factories as in our battlefield. Victory turned our way when our factories could produce planes and tanks faster than the enemies could destroy them; a feat they could not match.
England did not lose her position militarily or even politically; she lost it economically.
The world is a safer place if America’s economy is strong.