Obama "You Didn't Build That". I think he was right.

Well, that was painful to admit, but I was listening to the radio last week and heard Economics Professor Marianna Mazzucato talking about how we need to shift back to a mutualistic cooperation between the government sector and private sector spending.

Post WW2 there was a massive boom in technology as the government funded tons of programs that led to innovations like:
GPS(DOD funded in the 70's)
Internet(DOD, started in the 60's as ARPANET)
Infant Formula(NASA, 1960's)
Google's Algorithm(National Science Foundation, 1970's)
The Bar Code(National Science Foundation, 1970's
Plus more here:
www.thefiscaltimes.com...


The point here is that government(we tax payers) funded the biggest risk for some of our greatest inventions, and great private sector people took those ideas and created industries that employed 10's of thousands of people and generated unbelievable wealth for the majority of people.

Then somewhere around 1980 things changed. Back when these inventions were being funded by government research grants the tax rates were much higher....52% corporate rate. They have steadily decreased to where they are today, and research has stagnated. The rich and corporations have changed the game to where they now can keep most of the money in their hands.
www.nber.org...


Even Warren Buffet was calling on the government to tax the rich...back in 2011
www.nber.org...

So back to the Professor,
She is proposing we get back to those 1950's style agreements, but there will be caps and such to prevent the spike in onesided economics that has been going on for 40 years now. I gotta say, it goes against what I believed before, but she has my ear.

evonomics.com...

Another great article on how government programs generate wealth for private companies.

www.nytimes.com...

I think I have changed my mind on Trumps tax reduction.....for big business that is.

I just wanted to add, that yes, Elon Musk has gotten almost $8 billion in government grants, BUT, his companies are fuelling a huge change in EV's, battery tech, and space tech..give it time(and more money. lol)


thehill.com...

a reply to: lakenheath24

Your list there is the foundational elements of the system of technological totalitarianism they're ever more unleashing upon us.

a reply to: IgnoranceIsntBlisss

Baby Formula? Oh, man I never considered that but maybe they have been putting in microbeads with transmitters in the baby formula to control our minds! Or, maybe not.

a reply to: lakenheath24

That's what the remaining "free" humans in The Matrix, that's all theyll ever have to eat. And the bitch of that reality is they still in a nother layer of the Matrix. Merely allowed to live that miserable existence to at least have some clue about how the real world actually works.

Warren Buffet wants the rich taxed so that those family businesses with inherited property worth millions have to sell up and put their property on the market, which he then buys up.

a reply to: IgnoranceIsntBlisss

mmmmkay. Not exactly the thought-provoking discussion I was after. Must be in the wrong forum.

a reply to: stormcell

I didn't really get that from the article. Let me reread it quick.......

Nope, still didnt get that part.

One of the very few times that Obama was right in his presidency (though I don't agree with his conclusions entirely).

We are ALL standing on the shoulders of the giants who came before us. And we are all benefiting from their collective wisdom, endeavors, and successes.

No man (or woman) is an island... and no one accomplishes anything alone.

a reply to: lakenheath24


Your call to raise taxes would make sense if you could defend current government spending now.
There is so much waste and graft now that an increase in taxes would just mean bigger waste, graft, corruption.

a reply to: DBCowboy

There has ALWAYS been so-called waste. But like the articles say, there has been a sharp decline in government investment in innovation, which means commercial companies will not have anything to bring to market in the way that is like the 10 examples above.

Look at the return on investment in my second post....that aint waste.

a reply to: lakenheath24

I recall how synthehol was made and how we all rely on it today! What a lifesaver that public/private partnership was.

Oh ...

Wait ...

originally posted by: lakenheath24
a reply to: DBCowboy

There has ALWAYS been so-called waste. But like the articles say, there has been a sharp decline in government investment in innovation, which means commercial companies will not have anything to bring to market in the way that is like the 10 examples above.

Look at the return on investment in my second post....that aint waste.

My god.

Someone is always looking for a reason to raise taxes and take more of what I have.

No.

Just, no.


Spend the money wisely that is already taken before demanding more.

Technology and research have stagnated? Its news to me cause as far as I can tell its traveling light speed into a new era before most of us have learned the current one. In ten years I'm fairly certain they will be printing out houses and human organs by the millions. In fact, Nasa has stagnated so bad that its opened the way for competition that is running light years around it.

a reply to: DBCowboy

Isn't it awesome how great the US is at education too?

I mean, every single time we pour more money into our awesome public education system, those test scores just fly right up there.

I mean, we're even beating all those snobby Asian countries at math now. All we had to do was decide that it doesn't matter was the answer was to 2+2. All we had to do was get a bunch of private nerds to decide how to break that math problem down into a bunch of steps, and all the kids have to do is show they can write enough steps in their problems. Then, who cares if they can arrive at 4 for the answer?! Amirite?

a reply to: ketsuko


Just look at the trillions spent on the wars on drugs and terrorism!


Who knew that all we had to do was spend money, raise taxes, and all our problems would just go away!

a reply to: DBCowboy

Obamacare was/is another kickass public/private partnership, too.

Everything got cheaper when they kicked that one in, and I know I saved that $2,500. Didn't you?

originally posted by: ketsuko
a reply to: DBCowboy

Obamacare was/is another kickass public/private partnership, too.

Everything got cheaper when they kicked that one in, and I know I saved that $2,500. Didn't you?

You mean the billions spent on Obamacare that made it cheaper for everyone?

That Obamacare?

a reply to: lakenheath24

Government investment was and remains a contributor, but ONLY A CONTRIBUTOR.

100% bull# by a "professor" who knows EXACTLY ZERO in STEM - she is just a marxist economist, trying once more to sell socialism to the weak minded and uninformed.

Fact is, if greater government involvement produced anything, the Soviet Union would have produced microchips, the Internet, biotech, etc. The Soviets did not, clearly.

Private enterprise is what develops and markets innovation so it can benefit everyone. More money in government will only produce more research that goes nowhere such as the money government wasted on that lady's drivel.

This is the type of jealously STEM people have endured from social "fake scientists" for the last 30 years +.

The government wouldn't exist without "our" taxes so yeah I built that. All of it.