Obama's Social Justice Capitalism

Unlike the mercy-killing "vulture" capital firms, venture capital firms invest in start-up companies.  Take a quick look at a venture capital firm like Atlas Venture Capital and you will see a list of firms that are not exactly household names.  The sole criterion venture capital firms use to select start-ups for initial financial backing is whether, in their view, the firms can eventually succeed in the free market, prosper, and grow.  Moreover, venture capital firms use their own money and line of credit to get the companies started. The Obama team, by contrast, uses taxpayer money to inject capital into select firms to help them compete in the supply-demand market.  Their criteria for selection, moreover, are centered not on whether there is a good chance that the firm can prosper and grow on its own, but whether the firm is engaged in fields that further Obama's vision of environmental justice.  The companies of the green economy, so the story goes, will...(Read Full Article)

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