A Competition-Smothering Monster

From President Vladimir Putin’s speech yesterday at Novo-Ogaryovo concerning the reforms to made to Russian Railways, one of the largest state-owned rail transport companies in the world (as most travelers to Russia, myself included, have to come to know very well).

President Putin:

The success of our investment policy will depend on the effectiveness of the future model of the transport services market. And we now need to establish conditions that promote normal competition in the various spheres of the railway business. First and foremost we must do so with respect to transportation activities, traction power, and by providing maintenance repair services in equitable conditions. And of course a great deal depends on the decision the cabinet makes about how to further reform Russian Railways. This is very important. And if we create some kind of monster that smothers competition then we will not create any kind of market here.

I’m glad to know that Putin is against creating state-owned monsters.