Pat Dollard reports the Russian leader warned the US against adopting socialism because it doesn't work: Russian Prime Minister Vladamir Putin has said the US should take a lesson from the pages of Russian history and not exercise “excessive intervention in economic activity and blind faith in the state’s omnipotence”.The former commies still have a pretty good recollection of just how bad things can get under a state run economy. It's too bad our ruling elite couldn't have spent a few of their formative years in the old USSR.
“In the 20th century, the Soviet Union made the state’s role absolute,” Putin said during a speech at the opening ceremony of the World Economic Forum in Davos, Switzerland. “In the long run, this made the Soviet economy totally uncompetitive. This lesson cost us dearly. I am sure nobody wants to see it repeated.”[Snip.]
Sounding more like Barry Goldwater than the former head of the KGB, Putin said, “Nor should we turn a blind eye to the fact that the spirit of free enterprise, including the principle of personal responsibility of businesspeople, investors, and shareholders for their decisions, is being eroded in the last few months. There is no reason to believe that we can achieve better results by shifting responsibility onto the state.”
Thursday, February 19, 2009
No, this is NOT satire.
Posted by traderrob at 8:55 AM