Innovation: Institutions and the new new thing | The Economist:
Companies and businessmen, like politicians (or anyone, really) aren't angels. If a society wants to channel their energies in useful ways, it must be diligent in making sure that the incentives created by the economy's institutions are right. Recklessly throwing around goodies for the already rich and powerful is probably not a good way to proceed.
Companies and businessmen, like politicians (or anyone, really) aren't angels. If a society wants to channel their energies in useful ways, it must be diligent in making sure that the incentives created by the economy's institutions are right. Recklessly throwing around goodies for the already rich and powerful is probably not a good way to proceed.
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