<html><body><div style="color:#000; background-color:#fff; font-family:times new roman, new york, times, serif;font-size:14pt"><div><span><span id="misspell-0"><span id="misspell-0"><span id="misspell-0" class="mark">BillK</span></span></span> wrote:</span></div><div><span></span> </div><div><span>"The depressed market doesn't want innovation. The US needs</span></div><div><span> jobs first, then people will have money to spend."</span></div><div><span></span> </div><div><span>Redistribution of wealth <span id="misspell-1"><span>destroys</span></span> innovation and markets.</span></div><div><span></span> </div><div><span>If the government reduced its footprint - problems of innovation</span></div><div><span>would solve themselves. The decline of innovation coincides</span></div><div><span>with growth </span><span>of the government footprint.</span></div><div><span></span> </div><div><span>For every innovation coming out of
government more unseen</span></div><div><span>private innovations were destroyed. Redistribution to government</span></div><div><span>stifles innovation. Government taking from innovators cannot</span></div><div><span>spur net innovation.</span></div><div><span></span> </div><div><span>Dennis May</span></div><div><br></div><div style="font-family: times new roman, new york, times, serif; font-size: 14pt;"><div style="font-family: times new roman, new york, times, serif; font-size: 12pt;"><font size="2" face="Arial"><div style="margin: 5px 0px; padding: 0px; border: 1px solid rgb(204, 204, 204); height: 0px; line-height: 0; font-size: 0px;" class="hr" contentEditable="false" readonly="true"></div><b><span style="font-weight: bold;">From:</span></b> <span id="misspell-3"><span id="misspell-2"><span id="misspell-1" class="mark">BillK</span></span></span> <pharos@gmail.com><br><b><span style="font-weight: bold;">To:</span></b> ExI
chat list <extropy-chat@lists.extropy.org><br><b><span style="font-weight: bold;">Sent:</span></b> Sunday, September 18, 2011 3:36 AM<br><b><span style="font-weight: bold;">Subject:</span></b> Re: [ExI] A Nobel laureate and climate change<br></font><br>2011/9/17 <span id="misspell-6"><span id="misspell-5"><span id="misspell-4" class="mark">kellycoinguy</span></span></span> wrote:<br>> Bill.. If the rich want to produce spatulas or vacuums.. Then yes they go to<br>> China to get them built... But if they want true innovation, rather that<br>> rote duplication of stuff that has already been done, then there is still no<br>> place to beat the USA.<br>><br>> A big part of successful innovation is venture capital. China's government<br>> funds some research.. But it is a drop in the bucket compared to the US<br>> private investment in true innovation.<br>><br><br><br>Your first comment agrees that production facilities are
cheaper and<br>more productive in China. So more US innovation won't create much<br>employment in the US.<br><br>The financial press has noted that some (many?) US companies are not<br>bringing new products to market because in the current economic<br>depression consumer demand has collapsed. The depressed market doesn't<br>want innovation. The US needs jobs first, then people will have money<br>to spend.<br><br>There is much concern that US innovation is falling behind other<br>countries. Even Obama has commented on this. A recent report is here:<br><<a href="http://www.brookings.edu/papers/2011/08_innovation_greenstone_looney.aspx" target="_blank">http://www.brookings.edu/papers/2011/08_innovation_greenstone_looney.aspx</a>><br><br>The pace of US innovation has slowed since the 1970s. Mainly because<br>government funded research has halved. Basic research is funded by<br>government. (<span id="misspell-7"><span id="misspell-6"><span
id="misspell-5" class="mark">Barcodes</span></span></span>, fiber optics, MRI machines and <span id="misspell-8"><span id="misspell-7"><span id="misspell-6" class="mark">GPS</span></span></span> technology<br>are just a few of the innovations that came out of government-funded<br>basic research).<br>Venture capital funds the development of new trinkets for individual<br>firms to manufacture in China and sell in the US and make a profit.<br>And they need consumers willing and able to buy their trinkets.<br><br><br><span id="misspell-9"><span id="misspell-8"><span id="misspell-7" class="mark">BillK</span></span></span><br>_______________________________________________<br>extropy-chat mailing list<br><a href="mailto:extropy-chat@lists.extropy.org" ymailto="mailto:extropy-chat@lists.extropy.org">extropy-chat@lists.extropy.org</a><br><a href="http://lists.extropy.org/mailman/listinfo.cgi/extropy-chat"
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