There is a critical distinction between Mitt Romney’s and John Edwards’s wealth. Mr. Romney, as a businessman, made investments that created wealth. Mr. Edwards, as a trial lawyer, made his money through lawsuits that merely took from one pocket and gave to another, and probably destroyed wealth in the process. (Mr. Edwards’s multimillion-dollar medical malpractice verdicts almost certainly hurt the quality of health care in North Carolina.)
Little wonder that Mr. Romney understands that to improve the economy, one needs to expand the pie, while Mr. Edwards’s policy proposals focus entirely on the redistribution of the existing pie without thought for the future adverse consequences to the size of the pie.
Theodore H. Frank
Washington, Dec. 23, 2007
The writer is a resident fellow at the American Enterprise Institute for Public Policy Research.
More on the question of pie-sharing and pie-growing at SSRN. More on John Edwards’s trial-lawyer record: the Valerie Lakey trial; Edwards on the failure to warn; Edwards on stacking juries; and Edwards’s cerebral palsy cases (also: April 11 and links therein).