> However, government attempts to spur business to invest in bad ideas distort existing markets, they lead to potentially productive investment being channeled

> However, government attempts to spur business to invest in bad ideas distort existing markets, they lead to potentially productive investment being channeled into unproductive ends. > Europe has incredible potential, considering its political stability, world-leading universities, and existing talent. But it cannot and should not throw centuries-old economic truths out of the window to conjure up a simulacrum of technological sovereignty. Superpower status will not come via death by a thousand grants or attempting to recreate Silicon Valley in Strasbourg. It will come from what markets do best: discipline, picking battles wisely, and allowing bad projects to fail.