Hadn’t seen this here so I thought I’d post it. Transcript from a speech made by Putin on the 19th. Kind of sad that former leader of a former communist country has to indirectly warn the US about the dangers of socialism.
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.
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 .
*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. *
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Wow. Not sure I believe him. Do you know who was the audience?
"This is the Russian to whom Obama and the left should listen.
Instead, they prefer Marx."
I assume you are aware that Marx wasn’t Russian. In fact, considering the details of his historical theory of dialectical materialism, I’m sure that he would have regarded Russia as one of the LEAST likely European countries to become the first workers’ paradise.
Contrary to Putin’s assertion, the state wasn’t “absolute” in twentieth-century Russia, or at least not for very long. It was quickly discovered that it was necessary to allow some private land ownership and some little enclave of a private agricultural market to avert mass starvation. By the 1970s, private ownership of agricultural land represented a tiny percentage of the total, but produced almost half of the foodstuffs.
It sounds to me as if Putin has taken his cue, not from whatever remains of capitalism in America, but rather from American politics. He’s learned how to talk out of both sides of his mouth at once!
It was a speech at the World Economic Forum in Davos Switzerland on the 19th I believe.
HERE is the link to the entire transcript.
I don’t know why he would give such a speech and find it “suspicious” at best, but the guy has made or extorted a whole lot of money from mainly capitalist causes and grew up in a mostly communist environment, so I’d guess he knows what he’s talking about.
This is the Russian to whom Obama and the left should listen.
Instead, they prefer Marx.
Listen to him? So your advice is for Obama to be President for life? Because I don’t see Putin stepping down from power, even as a PM, anytime soon.
1. Contrary to Putin’s assertion, the state wasn’t “absolute” in twentieth-century Russia, or at least not for very long.
Isn’t that his point, “It doesn’t work, we tried it”
I’m not saying he believes or would even practice what he’s saying. I am saying what he’s saying is mostly correct and the fact that he CAN say it and people CAN compare what he’s saying to the direct this country is heading is a sad statement in and of itself.
20 years ago people would have laughed at him as we still regarded ourselves as “Capitalists”. Today people see the extent to which government has taken control of not only assets but is working to lessen the “Pain of failure” necessary for a capitalist system and recognize it for what it is, socialism growing into fascism and communism.
“Isn’t that his point, ‘It doesn’t work, we tried it.’”
Undoubtedly, that’s what he meant. I was just pointing out that what he actually said wasn’t quite accurate, and for a very good reason.
“I am saying what he’s saying is mostly correct and the fact that he CAN say it and people CAN compare what he’s saying to the direct this country is heading is a sad statement in and of itself.”
You’re absolutely right about that.
“20 years ago people would have laughed at him as we still regarded ourselves as ‘Capitalists.’ … People aren’t laughing anymore.”
Some of us were very aware 20 years ago that we had already long since abandoned true capitalism. Unfortunately, from reading the threads here it would seem that a lot of people think we have had free-market capitalism even in recent years.
But you’re correct that there has been that further devolution in the last 20 years.
Some of us were very aware 20 years ago that we had already long since abandoned true capitalism.
I was fairly young at the time…but still well aware we had abandonded capatilism on many levels. However most people still felt very strongly about no government intervention, etc etc. Today it’s almost as if people have given up.
