Putting people to work in the public sector to build the nation's infrastructure and price controls is proven to always work, when done correctly. It worked in Germany in the 1930s after its economy collapsed in the 1920s, it worked here during WW2, and there was plenty of government involvement in the economy after the American Revolutionary War in the late 1700s and early 19th century. Our country would've been stillborn economically and unable to compete with Europe, if not for Uncle Sam.
After WW2 It wasn't the "invisible hand" of the "free market" that got Western Europe and Japan back on its feet economically, but heavy government intervention. South Korea also had plenty of government involvement in the economy to become what it is today.
China now has the second-largest economy in the world, and it's America's top competitor. It didn't get to where it is today economically through laissez-faire capitalism. There's PLENTY of government involvement in the Chinese economy.
A nation that tried to develop its economy strictly with the "invisible hand" of the "free market", was Russia after the demise of the USSR. They went through what is called "shock therapy" (The immediate implementation of laissez-faire capitalism). Until Putin arrived in 2000, post-Soviet Russia was getting raped economically by a cabal of local and foreign billionaires and politicians. They were being looted by the "free market" until Putin arrived and said "NO MORE".
The major centers of economic power, namely the industries that are vital to Russia's economy (finance, energy, mining..etc.), were nationalized. Now practically all of those heavy industries are at least 40% in the hands of the government (state-owned).
What's the result of the above government involvement in the Russian economy? This:
Aeroflot (Airline) - 51.173% ownership- All-Russia State Television and Radio Broadcasting Company (Broadcasting) - State ownership
- Almaz-Antey (Aerospace & Defense) - 100% ownership
- ALROSA (Mining) - 43.9256% ownership
- Atomflot (Shipping) - State ownership
- AvtoVAZ (Automotive) - 100% ownership
- FGC UES (Energy) - 75% ownership
- Gazprom (Oil and Gas) - 50.23% ownership
- Inter RAO (Electricity) - State ownership
- Kamaz (Automotive) - State ownership
- Mining and Chemical Combine (Mining) - State ownership
- Mosenergo (Electricity) - State ownership
- Novorossiysk Commercial Sea Port (Shipping) - 20.0001% ownership
- Rosatom (Nuclear Energy) - 100% ownership
- Roscosmos (Space) - 100% ownership
- Rosneft (Oil and Gas) - 50% ownership
- Rosselkhozbank (Banking) - 71.9873% ownership
- Rosseti (Electric Power) - 88% ownership
- Rostec (Mixed) - 100% ownership
- Rostelecom (Telecommunications) - 56.8% ownership
- RusHydro (Electric Utility) - 60.4% ownership
- Rusnano (Nanotechnology) - 100% ownership
- Russian Agricultural Bank (Infrastructure) - 72.4% ownership
- Russian Highways (Infrastructure) - 100% ownership
- Russian Post (Letter Post) - 100% ownership
- Russian Railways (Infrastructure) - 100% ownership
- Sberbank of Russia (Banking) - 51% ownership
- Sevmash (Shipbuilding) - 48.4966% ownership
- Sovcomflot (Shipping) - 100% ownership
- Tactical Missiles Corporation (Defense) - 100% ownership
- Transneft (Oil and Gas) - 100% ownership
- United Aircraft Corporation (Aerospace) - 91.11514696% ownership
- United Grain Company (Trading) - 50% ownership
- United Shipbuilding Corporation (Shipbuilding) - 100% ownership
- Uralvagonzavod (Defense) - 100% ownership
- Vnesheconombank (Financial Services) - 100% ownership
- VTB Bank (Banking) - 60.9% ownership.
In 1998, Russia was experiencing the aftermath of the financial crisis that occurred in August of that year. This crisis led to a significant devaluation of the ruble and a default on domestic debt. The economic turmoil of this period did prompt a reevaluation of the post-Soviet privatization policies that had, to some extent, facilitated the rise of oligarchs and often lacked transparency and fairness. While there wasn't an immediate and explicit move toward nationalizing industries in 1998, the crisis and its aftermath did lead to increased state involvement, which led to increased confidence in the market, hence GDP improved.
When Putin took office, he nationalized most of the major industries in the country, and the graph speaks for itself. Russia's GDP skyrocketed and it's now, despite the American/EU sanctions, continuing to improve. So your assertion that government involvement in the economy undermines it, is laughable, if not pathetic. You're delusional. It's you who doesn't have a clue about real-world economics, thinking that the "invisible hand", the irrational, chaos of the market is enough to grow and run a nation's economy.
Putin is a staunch Russian nationalist and patriot, hence the economy must serve the Russian people. The market is centered, not on the private pursuit of profits, but on serving the nation. What's best in the long-term for Russia (The Russian people). If we truly love America, that's how we should think concerning our market economy. What's best for the American public, not what is best for a few greedy billionaires, who don't give a shit about America. The wealthy elites are internationalists, their allegiance is to their pocketbooks. They will hop on their private jets and mega-yachts and leave to their private Islands or Singapore.
Oh look, the fake Christian is actually a Marxist!