Posts Tagged ‘Trickle Up Poverty’

“State Capitalism” and “Junk GDP”

April 15, 2011

“State Capitalism” and “Junk GDP”

The following quote is taken from Trickle Up Poverty: Obama’s Attack on Our Borders, Economy, and Security, by Michael Savage.

I quote:

Among the many problems with what historian Amity Shales has called “state capitalism” is that it tends to produce, again in Shales’ words, “junk GDP.” With government dictating what technologies must be pursued¬†and developed, and providing billions of dollars in incentives for their pursuit, we lose the trail-and-error resilience of a free market, the small projects, privately funded, that actually develop the technologies that work and that make our lives better and more efficient.

End of quote.

Wake-up America!

V. Thomas Mawhinney, Ph.D.  1/15/11

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