80. Government Funding of Science with Terence Kealey
The Bitcoin Standard Podcast
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The American Free Enterprise Capitalist System
In 19 57, the russians launched sputnis. The americans felt that they had lost the space race. And so an organization called round to the round corporation employed two economists, kenarrow and richard nelson,. They basically charged them with inventing an economic model which relied on government funding of science. But in any way, it failed. Economics is not intuitive. It makes it very, very difficult for society to judge what economists are saying. In no classical market, you have an infinite number of companies competing with all these consumers. What could be more competitive than a neo classical market? One of the things that doesn't happen in a nev classical, competitive
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