Business and Government Relations: Politicians or Business Executives for US Economy Management

Running Head: Politicians or Business Executives for US Economy Management?
Politicians or Business Executives for US Economy Management?
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The great debate on experience in US economy management
Over the last few years, the US economy and by extension the global economy has suffered a great meltdown. However, the US economy is used by most economic and political analysts as a microcosm of what can bring a successful economy to its knees within a very short period. To justify this assertion, an analyst just needs to look at the major economic headlines that have hit the US from the issue of Chinese investment, economic implication of healthcare reforms, the slump of the Bank of America and finally, the emotive debate over the US debt crisis. Amidst all this debate, one common strand in the arguments has emerged; the fact that business executives can manage the economy better than their political counterparts.
When Mitt Romney one of the front runners in the Republican Party ticket announced his candidacy, the message was clear. The incumbent president has failed the economy due to inexperience in handling business affairs. Granted, this is a cogent argument because experience is considered to be the bane of success. The fact that a business executive such as Romney helped struggling firms get a global footing shows there is an inherent advantage in having them manage the US economy. However, there are many business executives who have fallen into the pitfalls of the politicians. The argument that a business executive will have the overall goal as the fulfillment of the economic ideals is myopic and unrealistic. When the business executive is in reign, there are many factors that will determine their policies and not just having a profit margin at the end of the day. There are political implications that have to be considered in every decision. In addition, every state has its own ideals and while some support ties with China for example, others more so the ones with Republican ties have no such inklings. The discussion over the US-South Korea agreement is such an issue where different states support or oppose policy based on the implications to the citizens.
In essence, business executiv...