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IPFS News Link • Science, Medicine and Technology

Technology Is Meaningless without Entrepreneurship

• arclein

However, governments fail to appreciate that innovation has to serve the market rather than political ends. Usually, the political directorate is inspired to fund socially prominent rather than economically useful ideas. For instance, across the globe governments are drafting policies to encourage people to purchase electronic vehicles. But doing so is irrelevant because if electronic vehicles are useful, then people will buy them without encouragement. Another objection to government-sponsored innovation is that the state is not a profit-driven entity. Some proponents of the entrepreneurial state argue that a government program sired the internet, yet the internet was commercialized by the private sector. The state is interested in using innovations to bolster political power and its coffers rather than promoting individual wealth.


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