Markets or plans, we need both – and efficiency, thank you!
Posted on | October 5, 2009 | No Comments
Mr. President, European Commissioner, Prime Minister, Herr Bundeskanzler, Statsminister etc,
We no longer need to debate whether we should have a market economy or whether we need planned development. Following the conclusions of the late Professor Vernon W. Ruttan http://en.wikipedia.org/wiki/Vernon_Wesley_Ruttan we need large scale government investments for the long term in order to develop new general purpose technologies http://en.wikipedia.org/wiki/General_purpose_technology . These technologies are necessary for our long term economic development and for the renewal of society.
We need to invest “big time” http://en.wikipedia.org/wiki/Big_Time in order to rapidly develop the ones we need to transform global energy systems on a large scale. We need to run this development as efficiently planned and managed large scale programs, like the Apollo program, which we may remember.
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