4 ms·
I think it's important, in this particular case, to note that Duke's "innovation" was clever and malicious rent-seeking. While there was some technical innovati
by cmiles74 8y ago
I think it's important, in this particular case, to note that Duke's "innovation" was clever and malicious rent-seeking. While there was some technical innovation in terms of the forming of the corporation in order to secure exclusive rights to the best cigarette rolling machine, this innovation was not Duke's but in fact his predecessor.
I, too, am strongly against the throwing out of babies. But in this case is seems clear that the celebrated entrepreneur is being misrepresented.
In my opinion, innovation is an important part of the economy. It is also my feeling that this innovation is all to often mistakenly paired with a fabled "entrepreneur", one who is taking a lot of credit for others people work. In this sense, this story about Duke seems like just another example of this common (and erroneous) trope.