Why the Conard Interview Matters— or, Why the Democrats Need Karl Rove - The Atlantic
I had heard previously of Edward Conard's book about capitalism. (He was a partner with Mitt Romney in Bain Capital). I like Fallow's analysis of why Conard's world view is wrong. It takes more than just low tax rates for innovation to work. I believe, like Fallows, that we need all of these things to make the system work:
My list would start with: openness to immigration and outside talent; strong university-based research systems; world's largest domestic market as incubator; rule-of-law and culture of venture capital (as opposed to absolute income share for venture capitalists); supportive "innovation in a garage can lead to glory" concepts and the related ideal of mobility and opportunity; and so on.