For a politician who once said that government should “trust
capital markets and (the) private sector to make the decisions, and let
the consumers pick winners and losers,” Gov.
Rick Perry certainly has had a change of heart.
As a candidate seeking the Republican presidential nomination, Perry
was critical of the idea that government can create jobs and opposed
government transfers of wealth. As governor of Texas, it's a different
story.
Perry has been a staunch advocate of the
Texas Enterprise Fund and the
Emerging Technology Fund
as tools for economic development. Taxpayer dollars bankroll both funds
which, as the governor's website describes the Texas Enterprise Fund,
“help attract new jobs and investment to the state.”
Perry's job creation claims, however, haven't stood up to scrutiny.
His manipulation of the Texas Enterprise Fund, including circumvention
of the fund's advisory panel to award $50 million to a controversial
project at Texas A&M University, his alma mater, and the
distribution of grants to a large number of companies whose principals
are significant donors to his campaigns earned Perry charges of “crony
capitalism” from his GOP competitors.
That sketchy history is enough to oppose Perry's efforts to transform the
Cancer Prevention and Research Institute of Texas into another public investment vehicle from which, he told the
Houston Chronicle,
“wealth can be created.” What's worse, changing CPRIT's mission to
commercialization and wealth creation amounts to a bait and switch with
taxpayers.
Voters approved up to $3 billion for CPRIT in 2007 with the
understanding that it would fund “research in Texas to find the causes
of and cures for cancer.” The ballot measure, Proposition 15, said
nothing about commercialization.
CPRIT's grant-making process is already a source of controversy. The
institute's leaders and lawmakers should resist pressure from Perry to
shift CPRIT's mission away from basic research. When it comes to
commercializing cures and treatments, let the market of medical
professionals and cancer patients pick winners and losers.