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Quotation of the Day…

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… is from page 276 of Matt Ridley’s excellent new (2020) book, How Innovation Works: And Why It Flourishes in Freedom: The same is true of America, which became the most advanced and innovative country in the world in the early decades of the twentieth century without significant public subsidy for research and development of any kind before 1940. The few exceptions tend to confirm the rule; for example, the government heavily subsidized Samuel Langley’s spectacular failure to make a powered plane, while wholly neglecting the Wright brothers’ spectacular success, even after they had proved their point. Comments

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… is from page 276 of Matt Ridley’s excellent new (2020) book, How Innovation Works: And Why It Flourishes in Freedom:

Quotation of the Day…The same is true of America, which became the most advanced and innovative country in the world in the early decades of the twentieth century without significant public subsidy for research and development of any kind before 1940. The few exceptions tend to confirm the rule; for example, the government heavily subsidized Samuel Langley’s spectacular failure to make a powered plane, while wholly neglecting the Wright brothers’ spectacular success, even after they had proved their point.

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Don Boudreaux
He is a professor of economics at George Mason University in Fairfax, Virginia. Previously, he was president of the Foundation for Economic Education.

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