At least he can't run for a 3rd term
Of course there are some fun facts that we have forgotten...Government or if you want to call it Obama has invested in over 147 Green Energy companies out of which 14 have failed..which means over 80% return on the investment(another 10 or so are in trouble). Even if 73 of them failed which is over half...That is still better investment that Bain Capital or Goldman Sacs, or Microsoft or Yahoo, or Apple or even Google! Actually come to think of it that is better yield than Stocks!
But who are we kidding if 99.99% were successful and one failed... we still be here and bitching why government is investing in that company and "Hey look Everybody it failed!"
I was actually reading this article and funny how history always repeat itself....
80 years ago as Vannevar Bush and Karl Taylor Compton at MIT foresaw that the use of national resources to fund science and technology research could change the course of warfare. Through a partnership between universities, government and industry, the R&D investments resulted in U.S. defense technology coming of age just in time for World War II. With an even greater vision at the end of the war, Bush portended, Despite Huge opposition for Conservatives in the Congress... that such national expenditures in science and technology would have broad, non-defense implications for a national economy. In fact, national support of longer-term research has evolved to an assumed national responsibility with the side effect that we are not carefully considering what makes these expenditures good investments for high economic returns.
The basic argument was...
Why must a government invest in long-term research? Isn’t private enterprise motivated to ‘out-innovate’ the competition?
Indeed, fundamental innovations that can result in decades-long economic expansion need research funding for years in order to evolve – and even after a first successful prototype, 10 to 15 more years to enter the marketplace. This time line is inherent to fundamental innovation, even when done optimally, for the process is not linear from research to development to product in the market. Efficient innovation is a highly iterative process, in which innovators repeatedly cycle through many factors in the areas of Technology, Market and Implementation – until the right pieces come together. As technology is shaped and prodded over this timeline, advantages and benefits change; meanwhile, markets change and other new technologies appear. For corporations in global competition, it is unlikely that a research investment with a 15 or 20 year horizon will result in a return for that specific organization. However, for a government, the exact organization or sector through which the innovation arrives is irrelevant for realizing its economic returns.
Must rely on the nation to invest in early innovative research because free-market actors cannot do so profitably by themselves;
Must rely on the free-market to competitively finish the later part of the innovation process because the nation cannot realize its return on research investment otherwise
The two sides of the innovation system are necessarily co-dependent, and such clarity should eliminate the extreme options that are dominating the national discourse.
The funny part is for some reason this common knowledge that almost all of the world and other first world countries practice has somewhat been lost to all conservative, libertarians here in US.. For example in Europe specially Sweden the recycling programs and Green Energy push has worked so well that they have actually ran out of garbage stuff to recycle and use for fuel and therefore must import garbage
Sweden runs out of garbage, forced to import from Norway | MNN - Mother Nature Network
Or the investment in Cern Collider and finding thing like higgs Boson particles...Which them liberal commies in Europe would get the credit for...
Sadly this would never happen here in US because half of us prefer instead of fixing problems and finding better solutions we rather point at things and bitch and complain about why things don't work and how big government is taking my lunch money!