4 ms·

Well the upside is that the lender develops successful technology that has a big impact on the economy and the movement away from reliance on oil. It's subsidi

Well the upside is that the lender develops successful technology that has a big impact on the economy and the movement away from reliance on oil. It's subsidized research.

hugh3 15y ago
It's badly subsidized research. Compare to, say, the budget of the National Renewable Energy Laboratory in Golden, Colorado. For five hundred million dollars, you can get, say, five thousand man-years worth of actual research. As opposed to a business that makes a few funny-looking sports cars for rich people and then goes broke.
OstiaAntica 15y ago
It is corruption, a form of "venture socialism" where politically connected donors get money with no-strings-attached. It's heads I win, tails, the taxpayer loses. This form of government-driven investment is a dramatic departure from 200 years of American tradition. Nobody really noticed because a lot of these programs were created by George W Bush, with Democratic support, and the media cheerleading anything "green".
- Retric 15y ago
  There are plenty of examples of these types of government backed deals. Disneyland being one of the most famous that nobody talks about but the tradition predates 'corporations' with the 'East India Company' being the both the first example of a large multi-national company and probably the most blatant example. Some of this is infrastructure like oil pipelines, but homestead land grants are both classic American expansionism and free handouts at the same time.
  - OstiaAntica 15y ago
    You are mistaken. Disneyland is a classic private entrepreneurial tale. Walt Disney sold his home to finance the park. http://www.mackinac.org/7164 http://www.mackinac.org/7164 Homestead land grants cost taxpayers nothing and went to small family farmers. That's nothing like half-billion dollar taxpayer loans directed by politicians in Washington.
    - Retric 15y ago
      Homestead land grants cost taxpayers LAND. After the film, it was explained that for Disney World, including EPCOT, to succeed, a special district would have to be formed: the Reedy Creek Improvement District with two cities inside it, the City of Bay Lake and the City of Reedy Creek (now the City of Lake Buena Vista). In addition to the standard powers of an incorporated city, which include the issuance of tax-free bonds, the district would have immunity from any current or future county or state land-use laws. The only areas where the district had to submit to the county and state would be property taxes and elevator inspections.[1] http://en.wikipedia.org/wiki/Walt_Disney_World_Resort http://en.wikipedia.org/wiki/Walt_Disney_World_Resort

Well the upside is that the lender develops successful technology that has a big impact on the economy and the movement away from reliance on oil. It's subsidized research.

hugh3 15y ago

It's badly subsidized research. Compare to, say, the budget of the National Renewable Energy Laboratory in Golden, Colorado. For five hundred million dollars, you can get, say, five thousand man-years worth of actual research. As opposed to a business that makes a few funny-looking sports cars for rich people and then goes broke.

OstiaAntica 15y ago

It is corruption, a form of "venture socialism" where politically connected donors get money with no-strings-attached. It's heads I win, tails, the taxpayer loses. This form of government-driven investment is a dramatic departure from 200 years of American tradition. Nobody really noticed because a lot of these programs were created by George W Bush, with Democratic support, and the media cheerleading anything "green".

Retric 15y ago
There are plenty of examples of these types of government backed deals. Disneyland being one of the most famous that nobody talks about but the tradition predates 'corporations' with the 'East India Company' being the both the first example of a large multi-national company and probably the most blatant example. Some of this is infrastructure like oil pipelines, but homestead land grants are both classic American expansionism and free handouts at the same time.
- OstiaAntica 15y ago
  You are mistaken. Disneyland is a classic private entrepreneurial tale. Walt Disney sold his home to finance the park. http://www.mackinac.org/7164 http://www.mackinac.org/7164 Homestead land grants cost taxpayers nothing and went to small family farmers. That's nothing like half-billion dollar taxpayer loans directed by politicians in Washington.
  - Retric 15y ago
    Homestead land grants cost taxpayers LAND. After the film, it was explained that for Disney World, including EPCOT, to succeed, a special district would have to be formed: the Reedy Creek Improvement District with two cities inside it, the City of Bay Lake and the City of Reedy Creek (now the City of Lake Buena Vista). In addition to the standard powers of an incorporated city, which include the issuance of tax-free bonds, the district would have immunity from any current or future county or state land-use laws. The only areas where the district had to submit to the county and state would be property taxes and elevator inspections.[1] http://en.wikipedia.org/wiki/Walt_Disney_World_Resort http://en.wikipedia.org/wiki/Walt_Disney_World_Resort