Mises Wire
Author:
Frank Shostak
Online Publish Date:
environment, firms will be concerned that other firms will quickly copy any innovations they introduce, so they will be reluctant to make costly investments in of thinking government policies play a critical role in fostering technological innovation. Contrary to Romer, the most important ideas actually emerge because of and the airline industry also in the early 20 th century. Furthermore, the policy of providing subsidies by the government would bypass the market mechanism