Over at the Washington Examiner’s Opinion Zone, I give nanotechnology a Schumpeterian treatment. In the long run, a competitive, cut-throat market process driven by innovation is better for consumers than if government were to fund and direct research:
A nanotech firm that lives mostly off of government grants lives a sheltered, more docile existence. It doesn’t need to come up with new products that save peoples’ lives, or make them better. They just have to be good at getting grants.
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Here! Here! The article is absolutly correct. In a market where Government funded NGO hold patents the Patents just deloay the progres of technology for twenty years at a time. Universities make bad technology hat houses. If it must be done have the Military do it in splashy PR projects with multiple services competering for the best results. It is amazing how little a civil servant can delay a project run by a uniformed man armed with heavy weapons.