If you have a big, costly problem to solve, you can take more money from the productive class and entrust it to government agencies with no incentive to solve the problem.
Or you can rely on the market to ensure that wealth will flow toward potential solutions.
I wonder what Wal-Mart haters thought when they read the following passage about Phoenix-based First Solar, a company seeking less costly solar energy options:
First Solar spent years tinkering before moving to mass production. It was able to weather those early days of profitless experimentation because it had a rich, patient backer: Wal-Mart heir John Walton, who pumped $250 million into First Solar before his death in 2005.
Without the wealth generated from Wal-Mart sales, it?s unlikely this company would have been able to do its work. For more about the value of Wal-Mart, you can revisit a Carolina Journal Radio interview with economist Richard Vedder.
