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Philip Hand's avatar

I disagree with the premise. One of the things that many people think promotes innovation is getting everyone as educated as possible. And that's a very major part of what the state does. When I was in my teens, a political party won power on a slogan that was literally, "Education, education, education." More things that are widely assumed to promote innovation and are strongly supported by western policy elites: local peace, free markets, access to finance, freedom of speech.

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Derek's avatar

Isn't part of this the risk-averse nature of capital? He have more capital now than at anytime in human history, but most of it is being poured into real estate and the stock market. You would need to incentivize large capital pools to put more than the current 2-5% into venture capital.

Also, perhaps government investments could get a royalty on innovations that create value? RIght now it's easy to rail against government "spending," but what's the ROI on ARPA?

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