We've all seen quite clearly in recent years that governments regularly socialize risk with bailouts of supporters and favorites. The worst part is the way they

We've all seen quite clearly in recent years that governments regularly socialize risk with bailouts of supporters and favorites. The worst part is the way they tip their hand in advance (e.g., The Greenspan Put [1]) incentivizing the the most reckless and morally hazardous behavior. But the article does not aim at this real problem. Rather it's just a basket of plausible sounding but totally unsubstantiated claims and deliberate ignorance of inconvenient facts. For example, we're supposed to view China's giant investments "environmentally friendly technologies" as destined for success. We won't question the competence of the government that has so recently built several cities (yes whole cities, yes plural) which are completely empty while peasants subsist in garbage heaps on their outskirts. Polemicals like this equate corporatism and cronyism with capitalism and free markets. Then with the straw man destroyed, it's not hard to guess what the solution will be. [1] http://en.wikipedia.org/wiki/Greenspan_put http://en.wikipedia.org/wiki/Greenspan_put