The Bad PlaceOpinion Voices | Contributor: Despite being overrun by businessmen, D.C. is anything but business as usual by Veronique de Rugy
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The article argues that a wave of venture‑capital and tech entrepreneurs now embedded in the Trump administration—such as Commerce Secretary Howard Lutnick, former IPO leader Michael Grimes, and the head of the U.S. International Development Finance Corp.—are mistakenly treating government like a private‑sector investment firm. While they bring market‑savvy expertise, they overlook the fundamental differences between profit‑driven businesses and political institutions, which lack clear price signals, profit incentives, and personal accountability. By insulating themselves from the consequences of bad bets and using billions of taxpayer dollars for “strategic” investments, they risk repeating the same misallocation and cronyism that a free market would punish. The piece warns that replacing market discipline with political decision‑making—whether to cut waste or fund large‑scale projects—will inevitably damage the economy, regardless of who runs the government.
Read more: https://www.latimes.com/opinion/story/2026-05-14/president-business-as-usual
#HowardLutnick #DFC #ElonMusk #GovernmentEfficiency #BeltandRoad #MichaelGrimes
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