America has become so anti-innovation

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America has become so anti-innovation

Postby Don't Blink » 12 May 17, 6:58 pm

America has become so anti-innovation – it's economic suicide
https://www.theguardian.com/technology/ ... ey-juicero

Contrary to popular belief, entrepreneurs typically make terrible innovators. Left to its own devices, the private sector is far more likely to impede technological progress than to advance it. That’s because real innovation is very expensive to produce: it involves pouring extravagant sums of money into research projects that may fail, or at the very least may never yield a commercially viable product. In other words, it requires a lot of risk – something that, myth-making aside, capitalist firms have little appetite for.

This creates a problem. Companies need breakthroughs to build businesses on, but they generally can’t – or won’t – fund the development of those breakthroughs themselves. So where does the money come from? The government. As the economist Mariana Mazzucato has shown, nearly every major innovation since the second world war has required a big push from the public sector, for an obvious reason: the public sector can afford to take risks that the private sector can’t.
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Re: America has become so anti-innovation

Postby Jack Flash » 14 May 17, 11:01 am

People would be surprised to find out how much DARPA funds
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