About Me

Kyle Smith (Twitter: @rkylesmith) is critic-at-large for National Review, theater critic for The New Criterion and the author of the novels Love Monkey and A Christmas Caroline. Type a title in the box above to locate a review.

Buy Love Monkey for $4! "Hilarious"--Maslin, NY Times. "Exceedingly readable and wickedly funny romantic comedy"--S.F. Chronicle. "Loud and brash, a helluva lot of fun"--Entertainment Weekly. "Engaging romp, laugh-out-loud funny"-CNN. "Shrewd, self-deprecating, oh-so-witty. Smith's ruthless humor knows no bounds"--NPR

Buy A Christmas Caroline for $10! "for those who prefer their sentimentality seasoned with a dash of cynical wit. A quick, enjoyable read...straight out of Devil Wears Prada"--The Wall Street Journal

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    2008: “Hope.” 2012: “Gov Is a Crappy VC”

    By kyle | October 3, 2011

    Who says government is a crappy venture capitalist? Why, it’s former chief economic advisor to Obama Lawrence Summers. This is one of the rare true things said by anyone in the administration that could (and should) fit on a bumper sticker. Summers also refers to “externalities,” by which he means, “we earn back some of our value because solar doesn’t pollute,” but of course that doesn’t quite work if a non-viable company goes bankrupt after making a bonfire of its generous subsidies.
    Not unrelatedly: Why is it that even the loudest liberals (like Elizabeth Warren) can only find four government spending programs to defend — e.g. police, firemen, teachers, and road-builders? If those were the only four things government did, the Tea Party wouldn’t exist (although it still should, thanks to innumerable ways even these four gouge the public such as Davis-Bacon rules that drive up the price of roads, tenure that makes it impossible to fire teachers, exorbitant pensions being paid to same, etc.).

    Topics: Economics | 1 Comment »

    One Response to “2008: “Hope.” 2012: “Gov Is a Crappy VC””

    1. Hedge Says:
      October 3rd, 2011 at 4:57 pm

      As Milton Friedman pointed out, money is spent most carefully when the money spent belongs to the person spending it and when that person spends it for himself and his family or business. Money is spent least carefully – indeed, often destructively – when it does not belong to the person spending it and when that person spends it not for himself but, instead, for strangers.