Finally there’s a President who understands that too much government intervention in the economy is bad. The problem is it’s Dmitry Medvedev, President of Russia. Speaking at an economic conference, he called for The Russian government to reduce regulations and get out of the way of businesses. He warned that government intervention in the economy leads to stagnation.
Medvedev acknowledged that the government’s expansion in managing the economy and the centralization of authority in the Kremlin under Putin was necessary in an earlier period of the country’s post-Soviet development. But, he said, “this economic mode is dangerous for the country’s future.
“”The proposition that the government is always right is manifested either in corruption or benefits to ‘preferred’ companies,” he said.
“My choice is different. The Russian economy ought to be dominated by private businesses and private investors. The government must protect the choice and property of those who willingly risk their money and reputation.”
[….]
“Corruption, hostility to investment, excessive government role in the economy and the excessive centralization of power are the taxes on the future that we must and will scrap,” he said.
President Medvedev gets it! Maybe he can give Barack Hussein Obama some advise on economics. It’s been 21 years since an American President understood that markets need to be free, not managed. It’s ironic the Russians get it and we don’t anymore.
(further reading….http://www.themoscowtimes.com/news/article/medvedev-touts-privatization-and-pro-business-policies/439088.html)
