- Sep 25, 2017
This video claims that technology development is largely due to governments spending of our tax money and then the profits from commercialisation go to private corporations that do comparatively little compared to the government spending. In addition, the taxes paid on corporate profits are claimed to be minuscule. So workers invest and corporations reap the return.
It does not sound fair when you put it like that. But is it a reasonable reflection of what really goes on ?
Without the incentives of capitalism, would the commercialisation work as well ?
Are the corporations really doing so little compared to government funded research ?
Could state funded organisations follow the research through to commercialisation ?
Ireland, with its low corporation tax, is particularly soft on large hi-tech ? Is it justifiable ?
Sweden is another story. They make it expensive on corporations to hire people in Sweden because they charge 3X the social insurance that Ireland charges. Is that the better way to go ? You use our workers then you pay the state for the privilege.
When Chomsky labels the corporation as the bad guy beneficiaries, who exactly does he mean ? The management, the investors. What about the workers ? What about the customers of the corporation ? Do they not benefit ?