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Innovation requires capital (human, financial, natural resources, etc.) capital requires strong economy, stability, etc. USA has all of it, moreover it can buy

Innovation requires capital (human, financial, natural resources, etc.) capital requires strong economy, stability, etc. USA has all of it, moreover it can buy the lacking components with dollars. USA has been strengthening their global position for years, since fighting off the Great Depression. Their unique position is further strengthened by the fact that the dollar they control is used in international trade. There is no way to compete with that head on, in the best case Americans just pay people with more money or buy the company outright. Europe does not have massive oil, gas, ore reserves. Most of it is a federation of culturally very different nations. Capital is scarce in contrast to USA. It’s really much harder to find support when developing new products and services because an error can destroy your life or career - our bankruptcy laws are less forgiving. All of that makes copying much more attractive here - it is less risky in an environment that punishes you when the risk materialises worse than in USA.

nceqs3 5y ago
well put
hef19898 5y ago
What you say may be ttue for the classic startup kind of innovation, less so for scintific ground work, developments in large existing companies and so on. In terms of patents, Europe is pretty much among the global leaders. Did we forget were two of the earliest COVId vaccines came from? Which aeroapace giant is building the more advanced civilian planes? Whos building the better quality cars (besides pushing EVs, even Teslas build quality is nowhere near that of European or Asian manufacturers, nor are other US brands)?
- nceqs3 5y ago
  The vaccines came from decades of NIH funded research and the US Govt's actions (in partnership with the private sector) during the actual pandemic.
  - hef19898 5y ago
    AstraZeneca came from Oxford (or was it Cambridge?), Pfizer from BionTech which was mainoy funded by the EU. Moderna was the US contender. That makes two of three that didn't come from the US, and I don't want to look up vaccination rates by vacvine per nation now.

nceqs3 5y ago

well put

hef19898 5y ago

What you say may be ttue for the classic startup kind of innovation, less so for scintific ground work, developments in large existing companies and so on. In terms of patents, Europe is pretty much among the global leaders. Did we forget were two of the earliest COVId vaccines came from? Which aeroapace giant is building the more advanced civilian planes? Whos building the better quality cars (besides pushing EVs, even Teslas build quality is nowhere near that of European or Asian manufacturers, nor are other US brands)?

nceqs3 5y ago
The vaccines came from decades of NIH funded research and the US Govt's actions (in partnership with the private sector) during the actual pandemic.
- hef19898 5y ago
  AstraZeneca came from Oxford (or was it Cambridge?), Pfizer from BionTech which was mainoy funded by the EU. Moderna was the US contender. That makes two of three that didn't come from the US, and I don't want to look up vaccination rates by vacvine per nation now.