A video from Prager University:
If most of the projects you invested in either went broke or were plagued by scandal (or both), you’d probably leave investing to the experts, right? So why can’t our government seem to learn the same lesson? In this week’s video, Burton Folsom, author and Professor of History at Hillsdale College, compares the government’s dismal track record of failed publicly-funded projects with similar privately-backed successes.
From the building of the transcontinental railroad in the mid-nineteenth century to Solyndra in the first decade of the twenty-first century, Professor Folsom illustrates how government incentives often have the opposite of their intended effect — discouraging efficiency and encouraging corruption — while private investors demand fiscal discipline and products that work. Watch the video and find out why, when it comes to innovation, it’s best when the government stays out of the way.