Here in NC, Sen Fletcher Hartsell wants the State of North Carolina to act as a guarantor of up to $30 million for each venture-capital firm that chooses to invest in North Carolina businesses.
In Venezuela, President Hugo Chavez has already used the government to take control of private corporations, that have in turn become less profitable.
The connection: Companies subject to massive government control and government money simply won’t have the proper incentives to compete in the market.
