(08-20-2019, 04:18 PM)jagibelieve Wrote:

(08-20-2019, 03:53 PM)mikesez Wrote: A patent is one way to reward research and innovation, but not the only way.  The government could instead offer one time cash prizes to anyone who creates a medicine that gains FDA approval as being effective. The prize amount would be based on how serious or prevalent the disease is.
You may remember that presidential candidate John McCain proposed a prize scheme for battery developers in 2008.

Except the government shouldn't have "cash" to offer "prizes" for innovation no matter the industry.

Part of the definition of a sovereign government is "the power which defines money and creates new money."

As we went over in a previous thread, one of the reasons our forefathers the colonists revolted was that the British decided to prevent them from printing money on their terms. In fact, while an ordinary British citizen trading in England could use pound notes for most transactions, the British were demanding that the colonists use only silver and gold coins. As soon as Independence had been declared, new paper money started getting printed.

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