Capitalism only works if companies are allowed to succeed and fail – on their own merits, in their own time, with their fate dependent on pleasing customers, not politicians. Yet the progressive economic policy-making coming out of Washington today rests on the futile attempt to escape the corporate cycle of life that lies at the heart of capitalism. The current administration actually brags about its interventionist approach, pledging to expand it, despite its manifest failures.
Thursday, September 6, 2012
Tilting at the winds of creative descruction
A venture capitalist criticizes public polices that try to temper their effects: