I heard the phrase, “pick winners and losers” in AP Radio News (aired on March 19), relating GOP presidential candidate, Mitt Romney’s attack on President Obama’s economic policy:
-Republican Presidential candidate, Mitt Romney says President Obama is wrong to pick winners and losers to try to boost the economy:
“Because he has not worked in the economy, he doesn’t understand when the government picks winners, they think, and losers that the rest of the free economy shatters.”-
There are many “pick winners and losers” quotes in Google search, for instance;
“Aside from this disparity and the empirical evidence that suggests the ineffectiveness of such efforts, it turns out there is one more problem with picking winners and losers: sometimes the winners you pick turn out to be losers.” - www.ctnewsjunkie.com.
But I find the definition of this phrase nowhere.
I remember that Chinese government took 'winners first' policy once to try to make the rich richer first, then making the poor rich subsequently as if trickling its effect when they started to steer their economic policy toward the open-market.
Does “the government picks winners and losers” mean to try to protect or benefit everybody, i.e. the rich and the poor equally?
What does it exactly mean?