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Originally Posted by dc_dux
Govt has always supported emerging technologies through tax incentives, etc. and in many instances, funded the foundation (IBM, for example, survived on federal grants during its early years in the 50s...and it was federal funding in the 80s that created the infrastructure that led to the internet and all the resulting private enterprises and investment)
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First, to be clear and perhaps so the subtlety of my point doesn't get lost. Government has a role in innovation. The best thing government can do is not get in the way and let emerging markets/goods/service grow. It is possible that government can do the right thing at the right time, however, government's track record of picking winners is poor and I don't not think it is the role of government to pick a side in an honest competitive market.
I don't buy into - government helped create the internet point of view. I do understand how some do, however.
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It becomes an even greater necessity in order to be competitive in a global economy.
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I don't think, for example, the market manipulation being done by the Chinese government to support their industry is a net good for the Chinese people. And if you think we should be more like China in this regard we are on opposite ends of the spectrum. I believe China should move in the direction of being neutral and to free market capitalism throughout their economy. I thought that was Obama's position as well, am I wrong?
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The latest example...of the top 25-30 companies around the world in clean energy technology -- wind, solar, advanced batteries, etc. -- only four are American companies. In large part because other govts see the value of supporting the development of those technologies, recognizing the payback in a global market.
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Or, our country has not created an environment (pardon the pun) friendly to these companies.
---------- Post added at 08:01 PM ---------- Previous post was at 07:54 PM ----------
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Originally Posted by dc_dux
ace, it was a significant government investment in creating the "information superhighway" in the 80s that provided the foundation for many of today's internet billionaires.
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If you say that like, government's investments in the interstate highway system, helped trucking and interstate trade, I agree. Otherwise not.
[quoteMore recently, the govts of every other industrial nation have invested in a national broadband infrastructure, recognizing that it is a necessity in leading to the private development of more emerging technologies.[/quote]
Companies pay the governments for licenses to use the airways. In order for those licenses to have value, government has to invest, true - but I think you are confusing infrastructure with innovation. Investing in infrastructure is a role for government in my view.