The question about “Do you fund a thousand garages so we create a new Silicon Valley.” The secret of Silicon Valley, which did more to increase economic prosperity than anything the government did (including Reagan’s tax cuts) was that it was done privately, by people who were excited by the potential of the technologies and wanted to push them, and who saw the possibility of getting ridiculously wealthy as well. Improving computational efficiency actually created wealth — and it came from individuals rather than big companies or the government. If the government funded such enterprises, they would be bureaucratized, ineffective and mediocre.

Posted in: Election 2008 • Joe Biden • John S. McCain |

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