Tag Archives | Private Sector

The Need For State-Based Innovation

onegoodthingleadstoanotherPoliticians and pundits constantly call for the government to step out of the way and let entrepreneurs and “job creators” build the industries of the future. New Left Project argues that this current conventional wisdom is all wrong, and more often than not, game-changing innovation is funded by the government, not the private sector:

The current debate, in the UK and abroad, on the need to cut back the state in order to unleash the power of entrepreneurship and innovation in the private sector, builds upon a stark contrast that is repeatedly drawn by the media, business and libertarian politicians: a dynamic, creative competitive private sector versus a sluggish, bureaucratic, inert, `meddling’ public sector.

It is assumed that the private sector is inherently more innovative, more able to think out of the `box’ and to lead a country towards long-run innovation-led growth. But many examples in the history of innovation, entrepreneurship and competition, in different sectors and across different countries, paint a very different picture – of a risk taking innovative state – especially in the most uncertain phases of technological development and/or in the most risky sectors – versus a more inert private sector, which only invests (in innovation, in new start- ups, in networks) once the state has absorbed most of the uncertainty.

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Private US Company Aims To Put A Man On Mars In 10-20 Years

Mars_HubbleOne of these days, bang, zoom, straight to….Mars? SpaceX, a private company based in the California, is hoping to put a man on Mars within a decade or two. From Agence France-Presse via The Raw Story:

Private US company SpaceX hopes to put an astronaut on Mars within 10 to 20 years, the head of the firm said.

“We’ll probably put a first man in space in about three years,” Elon Musk told the Wall Street Journal Saturday. “We’re going all the way to Mars, I think… best case 10 years, worst case 15 to 20 years.”

SpaceX is one of the two leading private space companies in the United States and has won $75 million from the US space agency NASA to help its pursuit of developing a spacecraft to replace the space shuttle.

The California-based company last year completed its first successful test of an unmanned space capsule into orbit and back.

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More Americans Work For the Government Than In Manufacturing, Farming, Fishing, Forestry, Mining & Utilities Combined

Charlie Chaplin in 'Modern Times'Stephen Moore writes in the Wall Street Journal:

If you want to understand better why so many states — from New York to Wisconsin to California — are teetering on the brink of bankruptcy, consider this depressing statistic: Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). This is an almost exact reversal of the situation in 1960, when there were 15 million workers in manufacturing and 8.7 million collecting a paycheck from the government.

It gets worse. More Americans work for the government than work in construction, farming, fishing, forestry, manufacturing, mining and utilities combined. We have moved decisively from a nation of makers to a nation of takers. Nearly half of the $2.2 trillion cost of state and local governments is the $1 trillion-a-year tab for pay and benefits of state and local employees.

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