The Supreme Court Votes Against Innovationby
The 5 to 4 vote by the Supreme Court to allow corporations and unions to use their general funds to directly support political candidates is really a vote against innovation and economic growth. It is a vote for Old Technology Against New Technology, the Big against the Small, the Established against the Entrepreneurial, the Well-Connected against the Insurgent. Big corporations,in particular, will now have the means to game the legislative as well as regulatory systems in their favor. They will be able to focus the flows of tax-payer money to their industries and have the government subsidize their companies.
The US government has already become a pay-to-play pit of corruption. The only difference between what happens in Washington and every state capital and what happens in Asia or the Middle East is that America has legalized corruption in the form of lobbying while other countries have not. The Supreme Court decision will only make this corruption worse.
If you’re sitting in Silicon Valley thinking of new businesses that will challenge the status quo, this Supreme Court vote is a vote against you.