The Flinchum File
Thoughtful Economic Analysis and Existential Opinions

Pearls of Wisdom…?

02/07/2010

Thinking back on President Clinton and President Bush sitting together as friends to discuss lessons learned in life, there are two observations that stick in my mind. First, President Clinton said that, as he aged, it becomes increasingly important to talk with others long enough to find something they agree about. Of course, it is easier to renew a discussion if the last one ended pleasantly. Second, President Bush said the only way he could save the American financial system and prevent a depression was to “swallow my principles”. i.e., minimize Federal involvement in the economy. I could see that caused him a good deal of anguish. Clearly, he did the right thing . . . but is it ever right to expect a person to swallow their principles? Or, do we have the right to expect others to swallow their principles for the good of everybody else?

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