Even the Communists Are Appalled

Steven Greenhut writes

You know things are bad when Russian Prime Minister Vladimir Putin lectures U.S. officials on the values of the free market. Speaking at the Davos world economic conference in Switzerland last month, Putin warned the U.S. against “excessive intervention in economic activity and blind faith in the state’s omnipotence.” He noted that “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. I am sure nobody wants to see it repeated.”