Putin – the New Capitalistic Pig?

I found myself in a very awkward state when I read this. Though I agree with Mr. Putin, how can I argue with this flawless rhetoric?

Putin – the New Capitalistic Pig

“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. … We are convinced that those who will create attractive conditions for global investment already now and will be able to preserve and strengthen sources of strategically meaningful resources will become leaders of the restoration of the global economy.”    – Vladimir Putin’s January 2009 speech  in Davos

I found myself in a very awkward state when I read this.  Though I agree with Mr. Putin, how can I argue with this flawless rhetoric?  But I found it very ironic, Putin criticizing government intervention and discussing creation “attractive conditions for global investment” is like Muammar Gaddafi (or Bin Laden) criticizing terrorism.

Related Articles

Playing a Game of Economic Survivor

I don’t do writing assignments. I don’t like deadlines. I am not a writer; I am an investor who thinks through writing. So when Institutional Investor asked me to write on the future of investing, my instinct was to politely decline. But the topic did seem intriguing. So I decided to give it a try.

The China Syndrome

MOST PEOPLE are convinced by now that there is a fixed-asset bubble in China that is on the verge of ... Read more

For Europe, Breaking Up Is a Hard Thing to Do

Everyone is looking with horror at Europe, waiting for the European Economic and Monetary Union to break up and ... Read more

We Are Not AAA

I have received many emails and a few calls from friends, asking one question: What are the consequences of ... Read more

Leave a Comment