Killing the Entrepreneurial Spirit – Why Government Is Not a Good Investor
Socialism and Entrepreneurial Capitalism Don’t Mix Well!
The author states in this article that President Barack Obama calls his stimulus bill and proposed budget an “investment” plan, implicitly recognizing that investment–rather than simply spending–creates economic growth. But this plan is based on the faulty assumption that only government is able and responsible enough to invest at this time.
Private investors have a personal stake in the outcome of their investments. But when politicians play entrepreneur with taxpayer money, that link does not exist; instead, the risk/reward is measured in terms of political outcomes.