Letter to the editor: Voters know small, not big, businesses

OPINION:

“U.S. Chamber of Commerce flirts with political ‘impotency’ after endorsement gamble” (Web, Oct. 26) fails to distinguish between macroeconomics and microeconomics. The chamber’s political action committee represents the largest 0.3% of America’s firms that employ 53% with 59% of payrolls, the domain of macroeconomics. 

Local chambers represent small businesses that produce and sell consumer goods and services, the domain of microeconomics, where firms survive on payrolls of the largest 0.3%.

Physicists have not found a “theory of everything” that connects general relativity with quantum mechanics. Similarly, economists have not discovered a TOE that connects macroeconomics with microeconomics.

It is not surprising then that macroeconomic policies pursued by the U.S. chamber are not adopted by candidates for the House of Representatives. Candidates will be elected by voters who are intimately involved with local small businesses that survive at the microeconomics level.

Alfred Nobel did not believe economics was a science, and it was 1969 before the Sveriges Riksbank Prize in Economic Sciences was referred to as the Nobel Prize in Economics. Is that why Stalin and Mao failed in their attempts to manage production with central committees? 

Perhaps the U.S. Chamber should endorse candidates for the House of Representatives who are approved by local chambers of commerce.