Romney’s Ode to the Corporate State

Here Mitt Romney’s speech in Michigan the other day.

It’s filled with things that should infuriate any advocate of free market economics. He extols corporate welfare and government subsidies as his ideal.

“Of course, taking off those burdens is only part of the solution. If we’re going to be the world’s greatest economic power, we also have to invest in the future. It’s time for us to be bold. I will make a five-fold increase – from $4 billion to $20 billion – in our national investment in energy research, fuel technology, materials science, and automotive technology. Let’s invest in our future.

“As you know, research spins out new ideas for new products, from both small businesses and large businesses. That’s exactly what’s happened in healthcare. We spend what $30 billion a year in NIH, and we lead the world in healthcare products. In defense, we spend even more. We lead the world in defense products. We also spend money in the space industry. And we lead the world in products coming out of space. Look how industries in these other states that have those advantages that thrive from the spin of other technologies, from our investment there. So if we can invest in healthcare, and defense, and space, why not also invest in energy and fuel technology right here in Michigan?

“Michigan can be a laboratory, just like other states – a drawing board, from which we can invent the future.

“Second, we’ll turn government workforce training programs that are managed by bureaucrats, into personal accounts that can be managed by the workers themselves so they can gain education at community college or they can pay for on-the-job training in real jobs.”

Summary: socialism for the rich is a wonderful thing.

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9:34 am on January 16, 2008