No Adam Smith.


In "Bull's-eye!" our lead story this issue, many leaders say that they have come to feel that the administration has painted a target on their backs. Even among those in the business community who were initial supporters of Barack Obama, some now worry that his policies won't grow the economy, but instead expand the scope and power of the state. "Every Obama economic policy increases government control and decreases economic freedom," one business leader who asked not to be identified told us during our recent CEO2CEO Leadership Summit (see p. 56), held at the New York Stock Exchange. CNBC Mad Money host, Jim Cramer, who voted for Obama, remarked on eerie similarities between the President's comments and the words of a certain communist revolutionary who rose to power in 1917.

We hesitate using the M-word to describe the President. Last July he told the editors of BusinessWeek that his Administration is not "a bunch of command-and-control, top-down, heavy-handed bureaucratic" regulators eager to "bog businesses down. That's not going to be our approach." He appears to be a sincere person with a lot on his plate, trying to get the economy going again. But sometimes sincerity can be an overrated virtue. Leaders must be judged by what...

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