re: Does War Promote Innovation?

Email Print

In addition to all these arguments based on sound economics, Peter, (in stark contrast to Tyler Cowen’s non-economic New York Times article), there are public choice considerations that are relevant.  Namely, the kinds of “innovations” that government will fund will always be heavily weighted toward politically-connected companies that have supplied the most “campaign contributions” to the political class.  Obama’s lavishing of subsidies to bankrupted and useless “solar energy” companies is one recent example.

3:26 pm on June 13, 2014