Let's see now, the government funds lots of basic research that leads to massive technological advance; let's call it the Internet. And a bunch of guys make oodles of dollars exploiting the technology for commercial gain. And then those same guys turn around and spend oodles of dollars on groups that spout libertarian nonsense
about how "government regulation stifles innovation and, without innovation, there is no economic growth." Bullshit
. It really is enough to make me wonder why so many Americans assume that one needs to be particularly intelligent or on the ball to succeed at business. So let me spell it out in simple terms: absent government funding, the world would be forced to get along without the wonders of PayPal. Think we might manage?
And before all my libertarian friends and students start rushing about asking why I think businessmen like Warren Buffett (say) are worth listening to on matters of tax policy, let's just say it is because Buffett, unlike this bozo, apparently believes in the virtue of consistency. Pretty simple.
Labels: Bullshit, libertarians