Failure Of The Free Market

The economy looks to be in quite a mess. Is it time to look elsewhere? Maybe so. Say, like, Russia.

“Some people, even in my own country, look at the riot of experiment that is the free market and see only waste. What of all the entrepreneurs that fail? Well, many do, particularly the successful ones. Often several times. And if you ask them the secret of their success, they’ll tell you it’s all that they learned in their struggles along the way — yes, it’s what they learned from failing. Like an athlete in competition, or a scholar in pursuit of the truth, experience is the greatest teacher.”

Ronald Reagan May 31, 1988 Address at Moscow State University

So if we continue to bail out the private sector in the name of ‘protecting’ people, might we be “protecting” them from experiences that will be the cornerstone of their future success?

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