Tuesday, November 17, 2009
Innovation in the 21st Century: Keeping the US Competitive
Sadly, the buisiness sector has been duped (along with most Americans) into believing that government investment is necessary for success. Nothing could be further from the truth. Innovation is the product of the good, old-fashioned, profit motive. Investment from the public sector, aside from being fundamentally unconstitutional, merely politicizes industry and consumer outcomes. Witness the government takeover of the American auto industry and the misdirected investment in so-called "green" energy that is stiffling, not expanding economic growth and opportunity in America. Of course, government has a regulatory role in managing the playng field and protecting private investors and consumers from corporate fraud and abuse, but government "partnership" in business is just a new name for old fashioned socialism and/or facisim. Return the power and the wealth to the people and industry and innovation will flourish.
Read the Article at HuffingtonPost