“…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.
[…]
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.”
Who exactly was it that gives us a lesson in historical perspective?
None other than Vladimir Putin during a speech at the opening ceremony of the World Economic Forum in Davos, Switzerland on January 29th of this year.
Dogs and cats living together. Mass hysteria!
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