"During the time of the Soviet Union the role of the state in economy was made absolute, which eventually lead to the total non-competitiveness of the economy. That lesson cost us very dearly. I am sure nobody would want history to repeat itself.

We should also be aware that for during the last months, we have been witnessing the washout of the entrepreneurship spirit. That includes the principle of the personal responsibility -- of a businessman, an investor or a share-holder -- for his or her own decisions. There are no grounds to suggest that by putting the responsibility over to the state, one can achieve better results.

Another thing -- handling crisis must not turn into financial populism, into rejecting a responsible macro-economic policy. Unreasonable expansion of the budget deficit, accumulation of the national debt -- are as destructive as an adventurous stock market game."
by:
Vladimir Putin
(1952-) President of Russia (2012-)
Source:
Key-note speech, Davos World Economic Forum, 28 January, 2009
http://rt.com/politics/official-word/putin-s-speech-davos-world-economic-forum/
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Reader comments about this quote:
Ahh yes, accurate, Amerika is replicating the path that economically, morally, and legally destroys nations.
 -- Mike, Norwalk     
  •  
    "There are no grounds to suggest that by putting the responsibility over to the state, one can achieve better results."
    Words from a man who understands very well what the end results of socialism and communism really are ... A stale and lifeless economy suffered by a stale and lifeless people.
     -- J Carlton, Calgary     
  •  
    Looks like Russia may be the next best chance for a free republic. Putin kicked out the Rothschild banks -- this was not part of the Rothschild's plan. Just goes to show that after a people have been crushed through a banker's trick, they can throw off the shackles and start anew. There is hope yet.
     -- E Archer, NYC     
  •  
    Wouldn't it be something if Russia and China turned out to be freer than the USA. It's possible if the Obama bunch have their way.
     -- jim k, Austin, Tx     
  •  
     -- Sandy, Huntington Beach      
     
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