When statists “get” capitalism

Russian state subsidies to its aircraft manufacturing industry have increased twentyfold over the past five years.  Now everyone’s favourite buff Russian politician, Vladimiar Putin, is warning that the gravy train will come to a shuddering halt unless things improve.

Putin gave the sector an Oct. 1 deadline to propose recovery measures and singled out state-run United Aviation Corp — created three years ago to spearhead the revival of Russia’s domestic aviation industry — for signing unprofitable deals.

‘I would like to warn you against the illusion that the state will cover losses indefinitely, pull you out of debt and correct management’s mistakes,’ Putin told a meeting of industry managers and government officials at the MAKS aerospace fair near Moscow.

… ‘We understand that the situation is difficult and your competitors are using their governments’ support, but you should not repeat somebody else’s stupid mistakes.’

— Bryanski, Gleb.  “Putin says Russia will not save plane builders.”  Forbes.com, 18 August 2009.

Is it too late to nominate this guy to the General Motors board of directors?

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