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Need, Speed, and Greed by Vijay V. Vaitheeswaran

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7

The Sputnik Fallacies

The need for innovation has never been greater, as the first section of the book explained. In addition, the very ways in which innovation happens—meta-innovation—are changing fast, as the second section of the book argued. That points to a pressing question: what to do about it? This final section of the book delves into the question of what governments, companies, and individuals can do to win in the age of disruptive innovation.

This chapter turns a critical eye to the arguments put forward by proponents of industrial policy. It is fashionable today to argue that the rise of China represents an existential economic threat to the West, one that can only be countered by a dramatic government effort akin to the Apollo ...

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