CNBC has been making reference to “The New Economy,” a phrase that immediately brought to mind the “New Economic Policy” established by Lenin in the early years of the Soviet Union. Under this system, a limited amount of entrepreneurship was allowed – particularly in agriculture and small business – in order to allow its practitioners – referred to as “NEPmen” – the “privilege” of producing and selling the goods that sustained the population in the face of the dysfunctional and contradictory policies of state collectivism.
I can just imagine Alan Greenspan being named to head a new cabinet post – the Department of New Economic Planning – to give life to this “New Economy.” After all, he was a part of Ayn Rand’s “inner circle,” so he must be a champion of laissez-faire capitalism, right? Right?
