Video: Is government ‘investment’ necessary for economic growth?

Victor Joecks

I cannot recommend this video highly enough.

One of the issues at the heart of the debate over green energy is the question: Is government intervention, called “investment,” of course, necessary for economic growth?

On Tuesday, Energy Secretary Steven Chu didn’t just say yes to that question – he said that government has “played an incredibly intimate role in all the technologies that led to prosperity in the United States.

Liberals have cheered Chu’s conclusion, with Las Vegas Sun columnist J. Patrick Coolican even jokingly endorsing Chu for President, because of his “powerful history lesson.”

So what’s a conservative to do? Instead of blindly accepting Chu’s embarrassingly inaccurate version of history, learn the truth. And this video, a lecture by Dr. Burt Folsom of Hillsdale College, contains a lot of history you won’t learn from Sec. Chu or liberal columnists.

It also shows why government picking the winners and losers, through “investment,” regulation or other interventions, harms – not helps – economic growth.

For more, check out Dr. Folsom’s blog.