I think Schmidt is dreaming, that the USA had an innovation policy that worked, that it could have an innovation policy that would work in the future.
We had a population that was willing and eager to try new things, once, and from the consumers to the entrepreneurs they did try new things, and that eagerness made growth and innovation. The world has some other populations who are willing and eager to try new things these days, and they have a lot more headroom for economic growth than we do. They are going to try new things and grow and innovate. We're too busy defending ourselves from hedge fund vampires and health care ghouls to worry about growth. Say what you will about the undead, they steal their profits fair and square and invest them in the rule of law. -- rec --
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