Sound money policies begun in the 1980s and fiscal restrain that helped reduce the federal debt and lower the cost of borrowing contributed to the economic growth of the 1990s. The private sector is always the source of economic growth and particularly increases in innovation. Without innovation, per capita incomes remain stagnant. The innovation of the 1990s was based on the transistor, which is the basis of information age. This innovation was financed by the venture capital cycle. The innovative companies of the 1990s were built on intellectual capital, risk capital and human capital. Patents secured title to intellectual capital. Founders, friends and family, plus angles and venture capital firms provided risk capital. Stock options allowed risky start-ups to acquire high priced talent from secure positions. For more information see http://hallingblog.com/
Sound money policies begun in the 1980s and fiscal restrain that helped reduce the federal debt and lower the cost of borrowing contributed to the economic growth of the 1990s. The private sector is always the source of economic growth and particularly increases in innovation. Without innovation, per capita incomes remain stagnant. The innovation of the 1990s was based on the transistor, which is the basis of information age. This innovation was financed by the venture capital cycle. The innovative companies of the 1990s were built on intellectual capital, risk capital and human capital. Patents secured title to intellectual capital. Founders, friends and family, plus angles and venture capital firms provided risk capital. Stock options allowed risky start-ups to acquire high priced talent from secure positions. For more information see http://hallingblog.com/
