07 Jul Should the government protect innovation?
We expect government to protect certain virtues as it regulates business: safe products and workplaces, a clean environment, and fair competition. Giving “innovation” similar protection — with its own agency, like the U.S. Environmental Protection Agency — is a notion I dismissed out of hand when I first heard it.
But why? Most of us accept that innovation’s a vital force driving economic growth. And yet we’ll leave to chance that regulators, alongside their appointed missions, will do what’s needed to nurture the long-term innovation environment?
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