Innovation can rescue our economy

Written by Paper. Posted in Innovation, Life, Main Street Polity

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Published on December 08, 2014 with No Comments

If we spent a million dollars every day since Jesus was born we will not have spent a trillion dollars today, says Dylan Ratigan, a controversial author/media figure who recently launched his “30 million jobs tour,” to highlight innovation around America. Ratigan contends that cutting the budget and taxing the rich won’t solve America’s debt crisis, and it won’t create jobs for unemployed and underemployed Americans. On tour to promote his book, “Greedy Bastards: How We Can Stop Corporate Communists, Banksters, and Other Vampires from Sucking America Dry,” Ratigan says innovation is the key to reviving the economy.

Innovation

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Ratigan wants us to understand the difference between the “makers” and the “takers.” Makers help us, while takers shift the burdens from their ill conceived schemes to the common people on “Main Street.” Ratigan’s example of a maker is the venture capitalist who invests in drug research. When the drug is successful the venture capitalist makes money and society gets a cure. That’s good for everyone. A taker is a big bank investing in lobbying for policy loopholes. When an investment scheme succeeds the bank makes money. When it fails, the bank passes on the risk to the public – gets a government bailout. Current regulations don’t keep the takers in check, says Ratigan.

In his jobs/book tour, Ratigan highlights innovative ventures and ideas. Firefly LED Lighting in Austin,Texas innovated a light bulb that lasts 30 years and is 90 percent efficient – a measure of the amount of output versus the amount used. The bulbs are made in America, thereby creating jobs. In Camden, New Jersey a doctor discovered that one percent of the people accounted for 30 percent of health care costs. The innovation in this case involved dealing with the issues of these very sick people and helping them to be healthier, leading to reduced health care costs. Innovation is good, greed is not. Not all are fans of Ratigan but most are fans of innovation.

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