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States Getting Into VC Business
In yet another example of socialized entrepreneurship, a majority of the states across the US (44 to be exact) report on their attempts to get into the VC business. While possibly well intentioned, this is bad policy. Studies have clearly shown that governmental efforts to guide investment have little long-term economic impact. Markets create sustainable economic growth, not bureaucrats.
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Chuck Huckaby on May 25th, 2006 12:54 pm
Our state legislators are only qualified to start up businesses in Mexico because they have so much experience in negotiating bribes.
Clair Ching on May 25th, 2006 6:50 pm
Maybe it’s all a matter of how much control they could exert. Get into the VC business then when things are good, manipulate some more. It’s a pessimistic view of things but it does happen.
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