I’m still thinking about innovation – Ralph Nader says the U.S. government invests plenty in research and development, but only wealthy and powerful interests reap the benefits.

We send our tax dollars to Washington, D.C., and the federal government gives trillions of these dollars to companies in the form of subsidies and bailouts.

Trillions of dollars are devoted to government research and development (R&D), which has built or expanded private companies. These include such industries as aerospace, pharmaceuticals, military weapons, computers, internet, biotechnology, nanotechnology, and containerization.

Our taxpayer-funded R&D is essentially given away free to these for-profit businesses. We the People receive no royalties nor profit-sharing returns on these public investments. Worse, we pay gouging prices for drugs and other products developed with our tax dollars.

Counterpunch

Maybe, but if this means an obsession with patents and copyrights and other forms of “intellectual property rights” designed to capture value for investors, I think it can go too far and actually limit innovation. It might make more sense for the government to make the investments, institute a value added tax to recoup the benefits of increased progress economy-wide, and return some combination of benefits and services to the people. This would be a pretty obvious win to the private sector and the public at large. Of course, the illogical pro-business, anti-tax ideology U.S. corporations have spent decades manufacturing and imposing on the population makes this combination of policies politically almost impossible.