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From the Article:
Where government's touch is light, we see
rapid innovation, but where government's hand is heavy, stakeholders are
holding on for dear life.
and
The standard left-wing complaint is to blame only big business and
capitalism. But if you don't think the exact sort of thing happens under
socialist and communist systems, you don't know anything about those
systems.
Despite a century of anti-corporate rhetoric about the power of
corporations, they actually come and go with amazing rapidity (Only 13%
of firms on the Fortune 500 list in 1955 were there in 2011).
But government is forever. The state has the unique ability to
protect existing "stakeholders" from the threats posed by innovation and
competition, whether those stakeholders are businesses or unions, fat
cats or philanthropies. That's where the votes are and where the checks
comes from.
But progress — material, medical, economic — comes from innovation.
Economist Deirdre McCloskey notes that until the 19th century,
innovation was a negative word because innovators upset the established
order and the powers that be.
Source, Jonah Goldberg, "Want an America That Works? Innovate, Don't Regulate," The Los Angles Times, February 25, 2014
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