Big government lovers don’t think they’re against innovation. They often say that they like innovation — at least the “right” kinds of innovation. You know, “good products” that people really need and technologies that are friendly to the environment. The trouble is that when they pursue policies designed to prop up companies that are floundering in the competitive market, they inevitably divert resources away from new, growing firms.
Rhodes College economics professor Art Carden illustrates the point very nicely here.
