> Or do you think the state is a more efficient investor of capital?
Absolutely! The number of inventions that was created by government investments absolutely dwarfs the number of privately funded inventions. Internet, GPS, cancer research, nuclear power.. I've never heard a logical explanation to why companies should be more efficient than states. Everyone just seem to take it as a given because "everyone knows" that governments are buerucratic and inefficient.
Your statement is fallacious. If governments are more efficient at creating inventions and advancing science, then according to that logic, a big government with greater power should be more efficient at advancing technological and scientific progress.
Yet, the majority of important technological and scientific inventions usually come from free-market based capitalistic societies. I don't see countries like North Korea, Russia and China making any scientific and technological breakthroughs, and I think it's easy to argue that they have very powerful governments.
Private sector has and always will drive the majority of progress. How much exactly, usually varies by era and political structure of the global society, but the fact that the free market ultimately drives innovation is indisputable.
USA has a larger government compared to GDP than both China and Russia (42% vs 36% and 24%). There are no stats for North Korea. If you want to argue the free-market gospel, then you have to explain why almost all third world countries have small governments and very low taxes.
Lol no they don't. Most third world countries actually have very strong authoritarian governments where any serious dissent is highly discouraged or even impossible. And even if they have low taxes, they sure compensate for that with regular currency debasement, widespread kleptocracy and stealing wealth from their citizens on a regular basis. This free-market "gospel" is based on hard facts, not some Marxist drivel.
Absolutely! The number of inventions that was created by government investments absolutely dwarfs the number of privately funded inventions. Internet, GPS, cancer research, nuclear power.. I've never heard a logical explanation to why companies should be more efficient than states. Everyone just seem to take it as a given because "everyone knows" that governments are buerucratic and inefficient.