That depends, are we talking about capitalism in the 19th century or earlier? At that time it definitely sparked a lot of useful innovations (steam engine, railways, airplanes were all invented under capitalism).
But if we are talking about capitalism in the 21st century, the only innovations seem to be in getting more state subsidies for corporations (plus finding tax loopholes and paying lower wages).
Not following. The industrial revolution made those that innovated wealthy. Those countries that did not poor. The innovations being made now will boost the economy of that country for decades. Just like it did before. Tesla, Apple, NASA etc… You can say it’s a waste of time and money, but not too many awesome innovations have been done by government mandate. People just don’t work that way - they need to be excited about their work, their identity.
Tax loopholes are part of doing business and developing new products. You can’t be non profitable for years and expect to pay high taxes. Non-profitability is needed to concentrate on innovations in the beginning of new business.
Innovations make peoples lives better as well as boost the nations economy by creating jobs and new markets. Take a look at the MRI machine. The innovation that made it possible would be considered a waste of time and energy by most. The initial technology came from studying the magnetic resonance of particles on other planets decades before the idea was implemented in human tissue in the 70s. Without “wasteful” spending, but I sure as hell value that invention.
You yourself just wrote that innovation comes from nonprofitability. If that were the case profit should be outlawed and only nonprofits allowed to exist.
This has got to be a bit account lol.
Also tell me what that “initial technology” story, like what were the scientists/researchers that developed it motivations?
That depends, are we talking about capitalism in the 19th century or earlier? At that time it definitely sparked a lot of useful innovations (steam engine, railways, airplanes were all invented under capitalism).
But if we are talking about capitalism in the 21st century, the only innovations seem to be in getting more state subsidies for corporations (plus finding tax loopholes and paying lower wages).
Not following. The industrial revolution made those that innovated wealthy. Those countries that did not poor. The innovations being made now will boost the economy of that country for decades. Just like it did before. Tesla, Apple, NASA etc… You can say it’s a waste of time and money, but not too many awesome innovations have been done by government mandate. People just don’t work that way - they need to be excited about their work, their identity.
Tax loopholes are part of doing business and developing new products. You can’t be non profitable for years and expect to pay high taxes. Non-profitability is needed to concentrate on innovations in the beginning of new business.
Innovations make peoples lives better as well as boost the nations economy by creating jobs and new markets. Take a look at the MRI machine. The innovation that made it possible would be considered a waste of time and energy by most. The initial technology came from studying the magnetic resonance of particles on other planets decades before the idea was implemented in human tissue in the 70s. Without “wasteful” spending, but I sure as hell value that invention.
You yourself just wrote that innovation comes from nonprofitability. If that were the case profit should be outlawed and only nonprofits allowed to exist.
This has got to be a bit account lol.
Also tell me what that “initial technology” story, like what were the scientists/researchers that developed it motivations?