The idea that we need more entrepreneurs to help improve the economy (a theme I've been thumping) is not lost on the government. However, their solution is to use taxpayer money to invest in areas they deem worthy. Most venture capitalists look for profitable businesses with a high potential return. Or at least some kind of return. The government has the luxury of being able to borrow as much as it wants from the Fed, or taxing the citizenry to death to pursue its dreams of a greener world...and is not seeking any return.
This is not entrepreneurial behavior. This is not venture capitalist behavior. It is the kind of behavior we should all be wary of - the government picking winners and losers. It's a precarious game, particularly if you choose a market that is so small your money isn't likely to have any kind of decent return. This administration claims the GM and Chrysler bailouts "made money" (though I am sure a careful accounting will prove otherwise). Assuming this is true, and politicians are astute enough to put taxpayer money to a profitable end - why the hell are we investing in this?
At its very core, it's just wealth redistribution. They just slapped a different label on it.
Ed: A quote from that piece:
Politicians write the press releases first and worry about the taxpayer losses later.
