For More Innovation, Unleash More Economic Freedom

When the Iron Curtain fell in 1989, I went to the other side the day after. We lived beside the border so we saw the border region with our crappy binoculars but there wasn’t much detail and nothing on how life was there. Now we could see and we were shocked. Those folks were decades, sometimes a century behind us in terms of technological development. In Austria, I had not seen donkeys or horses on farms and there they were everywhere. Living in a hyper-controlled, over-regulated system killed innovation in the crib. You can’t decree innovation.

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