Palin Inc.
27th April 2010
New York Magazine has a long profile of Sarah Palin up right now. Its focus is more publicity, personality and celebrity, than politics. The profile reduces my probability that Palin will make a serious run (as opposed to a pro forma one) for the highest office in 2012. It also leaves me impressed by how quickly and efficiently she’s leveraged her celebrity and gone from moderately upper middle class** in income (and in serious debt due to legal bills after the 2008 campaign) to wealthy. Some Republicans are apparently worried about her becoming the “face of the party,” something that crops up now and then in the media, but it doesn’t seem like they really have to worry that much unless the party has no real substance and is rooted only in style and the need to get elected. As for Sarah Palin, whatever you think of her politics or personality, she’s offering a concrete product distributed through the private sector. The article mentions that her book was a major reason that Random House generated a profit last year! Whatever criticisms one might lodge, she’s not getting rich by being a rent-seeker, as so many of our public and private sector elites have become. In fact the article points to a whole industry of liberal critique which has emerged around her, so she’s not even capturing all the wealth that she’s responsible for (spillover effects).
Doing well by doing good.