Conservative Liberal

FDR would have been a Republican today.

Man bites dog

This is is what comes to mind when a former KGB Colonel and a current Prime Minister of Russia explains the dangers of socialism.

I get interesting e-mails from someone named Larwin.  I am not sure who it is, but I am sure I have exchanged comments with this person on some blog.  Larwin sent me a link to the Gateway Pundit post with links and comments on former Russian President Putin’s speech in Davos at the World Economic Forum.  The transcript of the speech is here.  Here is the money quote:

Esteemed colleagues, one is sorely tempted to make simple and popular decisions in times of crisis. However, we could face far greater complications if we merely treat the symptoms of the disease.

Naturally, all national governments and business leaders must take resolute actions. Nevertheless, it is important to avoid making decisions, even in such force majeure circumstances, that we will regret in the future.

This is why I would first like to mention specific measures which should be avoided and which will not be implemented by Russia.

We must not revert to isolationism and unrestrained economic egotism. The leaders of the world’s largest economies agreed during the November 2008 G20 summit not to create barriers hindering global trade and capital flows. Russia shares these principles.

Although additional protectionism will prove inevitable during the crisis, all of us must display a sense of proportion.

Excessive intervention in economic activity and blind faith in the state’s omnipotence is another possible mistake.

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. (Emphasis mine – Eric-Odessit).

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.

And one more point: anti-crisis measures should not escalate into financial populism and a refusal to implement responsible macroeconomic policies. The unjustified swelling of the budgetary deficit and the accumulation of public debts are just as destructive as adventurous stock-jobbing.

Putin knows what he is talking about.  I can vouch for that based on my personal experienceHere is the video with this quote:

Powered by Qumana

About these ads

February 18, 2009 - Posted by | Uncategorized

4 Comments »

  1. [...] Dog Breeds put an intriguing blog post on Man bites Bdog/BHere’s a quick excerptThis is is what comes to mind when a former KGB Colonel and a current Prime Minister of Russia explains the dangers of socialism. [...]

    Pingback by Topics about Pets and Life with animals » Man bites Bdog/B | February 19, 2009 | Reply

  2. [...] Dog Breeds created an interesting post today on Man bites Bdog/BHere’s a short outlineThis is is what comes to mind when a former KGB Colonel and a current Prime Minister of Russia explains the dangers of socialism. [...]

    Pingback by Topics about Dogs and Life with Pets » Man bites Bdog/B | February 19, 2009 | Reply

  3. Speaking of the role of the state: Eric, do you support my Blueprint for a smaller government (i.e. for reducing the economic role of the state)?

    http://www.colony14.net/id117.html

    Comment by zbigniewmazurak | April 16, 2009 | Reply

  4. [...] for them.  It is not just Conservatives in this country who call him "Socialist".  Putin said that his economic measures lead to it.  "Pravda" called him "Socialist" [...]

    Pingback by Despair « Conservative Liberal | May 2, 2010 | Reply


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

%d bloggers like this: