Great going Obama voters, you want socialism? With this jerk in office, you’ll get it in full.
Obama vs. Capitalism
November 6, 2012 By Yuri Yarim-Agaev Comments (10)
In September of 2004, I attended a conference on economic development in the Donetsk region of Ukraine. A Ukrainian academician proudly presented the major achievement of his institute – a twenty year plan for developing the market economy in the region. After his presentation, I asked: “Why does the market economy need a twenty year plan?” The angry academician replied: “How can it develop without a plan? It would be a chaos.”
“I don’t think so,” I said, “the market will regulate itself. No one planned for Microsoft or Apple.”
“I am sure that you are wrong,” said the academician, “some people in the White House definitely thought that through.”
I recalled that exchange recently when I heard President Obama say:
“If you’ve got a business, you didn’t build that. Somebody else made that happen. The Internet didn’t get invented on its own. Government research created the Internet so that all the companies could make money off the Internet.”
I realized once again that the idea of the invisible hand may be not so agreeable, even for people with high intellect and good education. Indeed, the idea of market self-regulation is very complicated theoretically and is yet to be proven with the rigidity of the laws of physics.
Many of those who appreciate the idea do so as a result of personal experience. The Obama administration has a dearth of such people. The fact that there are far fewer persons with entrepreneurial experience in the current administration than in any previous one may explain the administration’s obvious distrust of the market economy and strong belief in government regulation.