Here is a fascinating interview with the couple who wrote Uncle Sam Cant Count. Their book is nonpartisan and brings up for review information that remains relevant but not common knowledge. They have researched innumerable unsuccessful attempts by the government to encourage businesses through subsidies. Our very first President attempted to support the fur trading industry by subsidizing a fur trading company. That company failed while its non subsidized competition prevailed. Subsidy of steam engines was another concept that lost out to the internal combustion engine. Major subsidy to develop the airplane lost out to the poorly funded private entrepreneurship of the Wright brothers. Picking winners and losers, crony capitalism, seems to have always been doomed to failure. The authors consider the current investment in green energy to be yet another example of repeating the same mistake at great expense. What does seem to work is establishment of prizes that go to the winners and encourage competition. https://youtube/watch?v=YKgVsFDQFmo
Posted on: Mon, 25 Aug 2014 14:22:08 +0000
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