From Cowboy Capitalists to Third-World Throngs

Cowboy Capitalism made us the greatest nation in history. Will a third-world clamor for a charismatic redeemer lead us down the road to loserdom, to join the ranks of our flaccid, declining, collectivist European cousins? Two smart men give us their take on what's happening to our society in two Wall Street Journal columns.

Dan Henninger reminds us of our greatness and the brave, frontier attitude that got us here. Fouad Ajami worries that Obamamania is driving our country towards "the politics of charisma that wrecked Arab and Muslim societies."

Here's Henninger's celebration of America, sure to encourage conservatives and disgust liberals.

The goal of Sen. Obama and the modern, "progressive" Democratic Party is to move the U.S. in the direction of Western Europe, the so-called German model and its "social market economy." Under this notion, business is highly regulated, as it would be in the next Congress under Democratic House committee chairmen Markey, Frank and Waxman. Business is allowed to create "wealth" so long as its utility is not primarily to create new jobs or economic growth but to support a deep welfare system.

This would be a historic shift, one post-Vietnam Democrats have been trying to achieve since their failed fight with Ronald Reagan's "Cowboy Capitalism."

Of course Cowboy Capitalism built the country. More than any previous nation in history, the United States made its way forward on a 200-year wave of upwardly mobile, profit-seeking merchants, tradesmen, craftsmen and workers. They blew out of New England and New York, rolled across the wildernesses of the Central States, pushed across a tough Western frontier and banged into San Francisco and Los Angeles, leaving in their path city after city of vast wealth.

The U.S. emerged a superpower, and the tool of that ascent was simple -- the pursuit of economic growth. Now China, India and Brazil, embracing high-growth Cowboy Capitalism, are doing what we did, only their cities are bigger.

Now comes Barack Obama, standing at the head of a progressive Democratic Party, his right hand rising to say, "Mothers, don't let your babies grow up to be for-profit cowboys. It's time to spread the wealth around."

What this implies, undeniably, is that the United States would move away from running with the high GDP, high-growth nations rising today as economic and political powers and move over to retire with the low-growth economies we displaced -- old Europe.

Fouad Ajami, the Arab world's greatest gift to America, draws some striking parallels between his beloved America and the Arab street of his boyhood.

Save in times of national peril, Americans have been sober, really minimalist, in what they expected out of national elections, out of politics itself. The outcomes that mattered were decided in the push and pull of daily life, by the inventors and the entrepreneurs, and the captains of industry and finance. To be sure, there was a measure of willfulness in this national vision, for politics and wars guided the destiny of this republic. But that American sobriety and skepticism about politics -- and leaders -- set this republic apart from political cultures that saw redemption lurking around every corner.

My boyhood, and the Arab political culture I have been chronicling for well over three decades, are anchored in the Arab world. And the tragedy of Arab political culture has been the unending expectation of the crowd -- the street, we call it -- in the redeemer who will put an end to the decline, who will restore faded splendor and greatness. When I came into my own, in the late 1950s and '60s, those hopes were invested in the Egyptian Gamal Abdul Nasser. He faltered, and broke the hearts of generations of Arabs. But the faith in the Awaited One lives on, and it would forever circle the Arab world looking for the next redeemer.

America is a different land, for me exceptional in all the ways that matter. In recent days, those vast Obama crowds, though, have recalled for me the politics of charisma that wrecked Arab and Muslim societies. A leader does not have to say much, or be much. The crowd is left to its most powerful possession -- its imagination.

It ain't over 'till it's over. Don't let the liberal politicians and their lap dogs in the press turn this into a third world country: Vote!