JP Hochbaum
DP Veteran
- Joined
- Feb 7, 2012
- Messages
- 4,456
- Reaction score
- 2,549
- Gender
- Male
- Political Leaning
- Independent
• Understand that markets don’t create value, but that organizations investing in productive capabilities, like business, governments, and households do.
• Ban stock repurchases by U.S. corporations so corporate financial resources can be channeled to innovation and job creation instead of wasted for the purpose of jacking up companies’ stock prices.
• Realize that the shareholder value ideology is destructive and will cause us to lag behind other countries that don’t subscribe to it.
• Regulate employment contracts to ensure that workers who contribute to the innovation process get to share in the gains from innovation.
• Create work programs that make use of and enhance the productive capabilities of educated and experienced workers whose human capital would otherwise deteriorate through lack of other relevant employment.
• Move toward a tax system that channels some of the money made on the gains from innovation toward government agencies that can invest in the public knowledge base needed for the next round of innovation."
Countries that invest more in research, education and have lower inequality are catching us, and our progress is now second to last:
"The U.S. used to be the envy of the world when it came to innovation, making things that dazzled the world and enhanced the lives of millions. But the Information Technology & Innovation Foundation, a bipartisan think-tank that ranks 36 countries according to innovation-based competitiveness, tells us we’re getting pushed aside on the global innovation stage. In 2009, to the surprise of those conducting the study, the U.S. ranked #4 in innovation, behind Finland, Sweden and Singapore. In 2011, the U.S. ranking was unchanged. Worse, the U.S. ranked second to last in terms of progress over the last decade.
Research by the Organization for Economic Cooperation and Development (OECD) also shows that the U.S. is not making as many cutting-edge products as it used to, and that other countries with strong investment in the foundations of innovation, like education and research and development, and fewer of the things that hinder it, like income inequality, are making greater strides than we are."
Lynn Parramore: The Depressing Tale of How Greedy Financial Titans Crushed Innovation and Destroyed Our Economy « naked capitalism
"Lazonick thinks what we really need is a whole new mindset about the economy. He recommends several things that would help get us back on track:
• Understand that markets don’t create value, but that organizations investing in productive capabilities, like business, governments, and households do.
• Ban stock repurchases by U.S. corporations so corporate financial resources can be channeled to innovation and job creation instead of wasted for the purpose of jacking up companies’ stock prices.
• Realize that the shareholder value ideology is destructive and will cause us to lag behind other countries that don’t subscribe to it.
• Regulate employment contracts to ensure that workers who contribute to the innovation process get to share in the gains from innovation.
• Create work programs that make use of and enhance the productive capabilities of educated and experienced workers whose human capital would otherwise deteriorate through lack of other relevant employment.
• Move toward a tax system that channels some of the money made on the gains from innovation toward government agencies that can invest in the public knowledge base needed for the next round of innovation."
US was ranked behind Finland, Sweden and Singapore? That is ridiculous. Finland population = 6 million. Sweden population = 10 million. Singapore population = 5 million. US population = 320 Million.
Patent rights should perhaps be changed. My father invented dozens of mechanical devices for the company he worked for... and while they make large sums of money, he didn't even get a raise. In a sense, he lost the will to create, and now does nothing but fix things.
Patent rights should perhaps be changed. My father invented dozens of mechanical devices for the company he worked for... and while they make large sums of money, he didn't even get a raise. In a sense, he lost the will to create, and now does nothing but fix things.
Or perhaps he should have invented on his own dime. Never mind R&D costs, right?
Or perhaps the company ate their seed crop by appropriating every last penny of profit from his inventions. Now that he's got absolutely no incentive to innovate, he isn't inventing anything and nobody has to mind his R&D costs.
And so American innovation continues to fall further behind countries that allow inventors a fraction of the profit...while libertarians defend a system that's manifestly failing by shifting the blame to people who stopped doing extra work they weren't getting paid for.
I agree it is quite ridiculous, this is not good news.
He's absolutely got an incentive.. it's called keeping his damn job. What you fail to understand is the company hires him to work in R&D thus add something to creating or improving current company knowledge. It's not his invention, it's the companies because the company pays for his salary, all the gadgets who uses and the workspace.
US isn't "falling" behind. Rest of the world is catching up. The previous 6 decades the US had no real competition in anything but each country over the last 2 or 3 decades have found their niche. Being 4th is actually really good considering China "steals" tech and US companies tend to ship R&D overseas, like Intel and AMD. Hell, Intel has 10% of it's R&D in China. So people have to have reasonable expectations of the 21st century.
Providing the tools and materials he used to invent certainly entitles them to a cut of the profit, but taking all of it has killed this man's innovation. That company's greed ate their seed crop and now that man is no longer producing new inventions.
I feel that companies should definitely be able to recoup the R&D costs (for the one product and all the others that failed to make it to market), but allowing them to accrue limitless profit without a penny of it trickling down the inventor is immoral. (and in this one case, it has killed American innovation)
Countries that invest more in research, education and have lower inequality are catching us, and our progress is now second to last:
"The U.S. used to be the envy of the world when it came to innovation, making things that dazzled the world and enhanced the lives of millions. But the Information Technology & Innovation Foundation, a bipartisan think-tank that ranks 36 countries according to innovation-based competitiveness, tells us we’re getting pushed aside on the global innovation stage. In 2009, to the surprise of those conducting the study, the U.S. ranked #4 in innovation, behind Finland, Sweden and Singapore. In 2011, the U.S. ranking was unchanged. Worse, the U.S. ranked second to last in terms of progress over the last decade.
Research by the Organization for Economic Cooperation and Development (OECD) also shows that the U.S. is not making as many cutting-edge products as it used to, and that other countries with strong investment in the foundations of innovation, like education and research and development, and fewer of the things that hinder it, like income inequality, are making greater strides than we are."
Lynn Parramore: The Depressing Tale of How Greedy Financial Titans Crushed Innovation and Destroyed Our Economy « naked capitalism
"Lazonick thinks what we really need is a whole new mindset about the economy. He recommends several things that would help get us back on track:
• Understand that markets don’t create value, but that organizations investing in productive capabilities, like business, governments, and households do.
• Ban stock repurchases by U.S. corporations so corporate financial resources can be channeled to innovation and job creation instead of wasted for the purpose of jacking up companies’ stock prices.
• Realize that the shareholder value ideology is destructive and will cause us to lag behind other countries that don’t subscribe to it.
• Regulate employment contracts to ensure that workers who contribute to the innovation process get to share in the gains from innovation.
• Create work programs that make use of and enhance the productive capabilities of educated and experienced workers whose human capital would otherwise deteriorate through lack of other relevant employment.
• Move toward a tax system that channels some of the money made on the gains from innovation toward government agencies that can invest in the public knowledge base needed for the next round of innovation."
Countries that invest more in research, education and have lower inequality are catching us, and our progress is now second to last:
"The U.S. used to be the envy of the world when it came to innovation, making things that dazzled the world and enhanced the lives of millions. But the Information Technology & Innovation Foundation, a bipartisan think-tank that ranks 36 countries according to innovation-based competitiveness, tells us we’re getting pushed aside on the global innovation stage. In 2009, to the surprise of those conducting the study, the U.S. ranked #4 in innovation, behind Finland, Sweden and Singapore. In 2011, the U.S. ranking was unchanged. Worse, the U.S. ranked second to last in terms of progress over the last decade.
Research by the Organization for Economic Cooperation and Development (OECD) also shows that the U.S. is not making as many cutting-edge products as it used to, and that other countries with strong investment in the foundations of innovation, like education and research and development, and fewer of the things that hinder it, like income inequality, are making greater strides than we are."
Lynn Parramore: The Depressing Tale of How Greedy Financial Titans Crushed Innovation and Destroyed Our Economy « naked capitalism
"Lazonick thinks what we really need is a whole new mindset about the economy. He recommends several things that would help get us back on track:
• Understand that markets don’t create value, but that organizations investing in productive capabilities, like business, governments, and households do.
• Ban stock repurchases by U.S. corporations so corporate financial resources can be channeled to innovation and job creation instead of wasted for the purpose of jacking up companies’ stock prices.
• Realize that the shareholder value ideology is destructive and will cause us to lag behind other countries that don’t subscribe to it.
• Regulate employment contracts to ensure that workers who contribute to the innovation process get to share in the gains from innovation.
• Create work programs that make use of and enhance the productive capabilities of educated and experienced workers whose human capital would otherwise deteriorate through lack of other relevant employment.
• Move toward a tax system that channels some of the money made on the gains from innovation toward government agencies that can invest in the public knowledge base needed for the next round of innovation."
Providing the tools and materials he used to invent certainly entitles them to a cut of the profit, but taking all of it has killed this man's innovation. That company's greed ate their seed crop and now that man is no longer producing new inventions.
I feel that companies should definitely be able to recoup the R&D costs (for the one product and all the others that failed to make it to market), but allowing them to accrue limitless profit without a penny of it trickling down the inventor is immoral. (and in this one case, it has killed American innovation)
Perhaps he should have gone into business for himself. It's not cheap to make prototypes, design manufacturing processes for new inventions and take the financial risk of the new product being successful...or not. Your father didn't have to deal with the money or logistical headaches of any of those things.Patent rights should perhaps be changed. My father invented dozens of mechanical devices for the company he worked for... and while they make large sums of money, he didn't even get a raise. In a sense, he lost the will to create, and now does nothing but fix things.
Or perhaps the company ate their seed crop by appropriating every last penny of profit from his inventions. Now that he's got absolutely no incentive to innovate, he isn't inventing anything and nobody has to mind his R&D costs.
And so American innovation continues to fall further behind countries that allow inventors a fraction of the profit...while libertarians defend a system that's manifestly failing by shifting the blame to people who stopped doing extra work they weren't getting paid for.
that investment sum you used to buy equities will have increased because you selected desirable stocksCountries that invest more in research, education and have lower inequality are catching us, and our progress is now second to last:
"The U.S. used to be the envy of the world when it came to innovation, making things that dazzled the world and enhanced the lives of millions. But the Information Technology & Innovation Foundation, a bipartisan think-tank that ranks 36 countries according to innovation-based competitiveness, tells us we’re getting pushed aside on the global innovation stage. In 2009, to the surprise of those conducting the study, the U.S. ranked #4 in innovation, behind Finland, Sweden and Singapore. In 2011, the U.S. ranking was unchanged. Worse, the U.S. ranked second to last in terms of progress over the last decade.
Research by the Organization for Economic Cooperation and Development (OECD) also shows that the U.S. is not making as many cutting-edge products as it used to, and that other countries with strong investment in the foundations of innovation, like education and research and development, and fewer of the things that hinder it, like income inequality, are making greater strides than we are."
Lynn Parramore: The Depressing Tale of How Greedy Financial Titans Crushed Innovation and Destroyed Our Economy « naked capitalism
"Lazonick thinks what we really need is a whole new mindset about the economy. He recommends several things that would help get us back on track:
• Understand that markets don’t create value, but that organizations investing in productive capabilities, like business, governments, and households do
• Ban stock repurchases by U.S. corporations so corporate financial resources can be channeled to innovation and job creation instead of wasted for the purpose of jacking up companies’ stock prices.
• Realize that the shareholder value ideology is destructive and will cause us to lag behind other countries that don’t subscribe to it.
really? regulate employment contracts. so, everyone is going to have their employment contract in writing, and each contract is going to be reviewed, and each change to each contract is going to be reviewed by a government regulator. and that massive bureaucracy is going to then spawn increases in innovation?• Regulate employment contracts to ensure that workers who contribute to the innovation process get to share in the gains from innovation.
.• Create work programs that make use of and enhance the productive capabilities of educated and experienced workers whose human capital would otherwise deteriorate through lack of other relevant employment
• Move toward a tax system that channels some of the money made on the gains from innovation toward government agencies that can invest in the public knowledge base needed for the next round of innovation."
He did not have access to hundred thousand dollar machines in his private garage.Or perhaps he should have invented on his own dime. Never mind R&D costs, right?
He did not have access to hundred thousand dollar machines in his private garage.
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