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Arnold Kling has a Ph.D. in economics from MIT; founded, one of the very first commercial websites, in 1994; separated from Homefair in January 2000 after it was sold to Homestore; is author of Under the Radar: Starting Your Internet Business without Venture Capital, and is an essayist. Send comments to us at

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March 10, 2004

I'll take Ohio

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Posted by Arnold

Steve Clemons praises the taxpayer support of high-tech research in New York state.

New York has already invested $620 million of a planned $1 billion to create an imaginative network of research and development incubators - dubbed "the Empire State High-Tech Corridor."

...Contrast the energetic New York program with the disappointment among business and labor advocates in Ohio when voters last November narrowly defeated a $500 million state bond issue to fund pro-growth R&D in the state.

Good for Ohio. The only thing stupider than Federal bureaucrats trying to run an industrial policy is state and local bureaucrats trying to do it. Maryland has wasted a ton of money on incubators, "corridors," and other fads.

If government takes over, what used to be the most dynamic sectors of our economy will wind up looking like our least effective industry.

Comments (1) + TrackBacks (0) | Category: business models


1. steve on May 10, 2004 01:34 AM writes...

for those of us who don't want to fill out a registration for every newspaper in the country, what's the worst industry?

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