[depressed in 06]

“[T]he success of [Apple and Google], and indeed the viability of our entire economy, depends heavily on a well-performing public sector. There are creative entrepreneurs all over the world. What makes a difference. . . is the government.”

Funny, I heard DumBO say the same thing over the weekend, only, not as eloquent.

[Bon mots]

Yes, I remember in the PBS Video series, “Free To Choose”, Milton Friedman compared Japan with India.

Both were backwards in the 19th century.

JAPAN:
At the turn of the 20th century, Japan decided to modernize, so they sent their best and brightest to the leading industrialized nation at the time - England. They were to study at the best economic universities of the day and learn how to modernize their economy.
In vogue at that time was Adam Smith, Free Markets, the ‘invisible hand’ and laissez faire economics.
The rest is history.

INDIA:
Upon gaining their independence in 1947/8 from the British, they too sent their best and brightest to the best British universities to learn how to build a world-beating economy.
In vogue at that time was Keynsianism, Central Planning...
The rest is history.