Russian Prime Minister Vladimir Putin said in a speech he gave at the opening ceremony of the World Economic Forum in Davos, Switzerland:

True, the state’s increased role in times of crisis is a natural reaction to market setbacks. Instead of streamlining market mechanisms, some are tempted to expand state economic intervention to the greatest possible extent.

The concentration of surplus assets in the hands of the state is a negative aspect of anti-crisis measures in virtually every nation.

In the 20th century, the Soviet Union made the state’s role absolute. 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.

This sounds somewhat familiar… hmm…  I wonder where this is possibly being repeated?  But let’s not actually listen to someone who has been there, done that.  Economic wisdom from a former member of the KGB.  Interesting.

(HT: Pink Elephant Pundit)

You May Also Like

The American Economic Crisis Remains

The economic crisis will continue unless Americans reject the current policies that are emerging and realize that the welfare state must be trimmed back.

I Declare My Independence From Party Politics

Shane Vander Hart: I pulled the trigger. I changed my voter registration from “Republican” to “no party.” I declare my independence from party politics.

An unconstitutional killing: Obama’s killing of Awlaki violates American principles

By Ron Paul: As President, I would not hesitate to use decisive…

Many Happy Returns!

I hate watching returns. My stomach does flips and churns with every…