• JohnDClay
    link
    fedilink
    arrow-up
    1
    ·
    1 year ago

    Free market investing is what promotes the wider application of innovations. A government owned investing apparatus is worse at that. That’s what I meant by free market.

    • ☆ Yσɠƚԋσʂ ☆@lemmy.mlOP
      link
      fedilink
      arrow-up
      1
      arrow-down
      6
      ·
      1 year ago

      Again, there’s little evidence to show that private investment drives socially useful innovation in practice. In fact, we can contrast the kind of innovation we see in western countries where investment is largely private and in China where the government plays a large role and much of the industry is state owned. China now has the best high speed rail network in the world, it dominates in renewable energy, has developed thorium nuclear reactors, it’s leading in electric vehicles, and so on. That’s meaningful innovation that’s directly improving the lives of people.