02/11/2019

Malpass May Emerge As Trump’s Anti-Socialist Point Man

The New York Sun

Could David Malpass emerge as the point man of President Trump’s campaign against socialism? The thought occurs to us as the economist prepares to accede to the presidency of the World Bank. Mr. Trump’s formal announcement of his plan to name Mr. Malpass to the post took place the day after Mr. Trump, in his State of the Union speech, laid down his marker in respect of socialism.

The context in which Mr. Trump brought up socialism was Venezuela. The president didn’t give a monograph on the impoverished oil-rich country. The president did, though, ascribe to the regime’s “socialist policies” blame for having “turned that nation from being the wealthiest in South America into a state of abject poverty and despair.”

Then Mr. Trump warned of creeping socialism here at home. “Deftly” is the word a dispatch in the Hill newspaper used to describe the way the president juxtaposed the two. It “created an immediate public split among Democrats that was caught on live television.” Senators Schumer, Stabenow, Manchin, Tester, and Brown joined a standing ovation with Republicans. Other Democrats, not so much.

What an opening for Mr. Trump, what an issue for a sage like Mr. Malpass. He understands the economic problem down to the ground — that the biggest problem the developing world faces, the biggest problem poor countries face is socialism and the lack of a system protecting property rights, sound money, market prices, and a system of independent courts to enforce laws.

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