10 Apr '11, 3pm

Chu: New Industries, Like Green, Need Government Support: Industrial subsidies are as American as apple pie.

Chu: New Industries, Like Green, Need Government Support: Industrial subsidies are as American as apple pie.

Industrial subsidies are as American as apple pie. Energy Secretary Steven Chu, fresh from the budget standoff in Washington D.C., outlined how the U.S. government historically has used its heft to jumpstart new industries by sponsoring research or assuming underlying infrastructure costs at the Berkeley-Stanford Cleantech Conference in San Francisco. Now, that same heft should be flexed now to help the U.S. build a greentech industry before it's too late. "What made America great was the interplay between the government and the policies it set and businesses." he said. "Every country in the world has read our playbook. State-sponsored research is the road to prosperity. It is good to remind people what happened." Some examples: --In the midst of the Civil War, Abraham Lincoln established the National Academy of Sciences. He also signed a bill to that gave land, access rig...

Full article: http://www.greentechmedia.com/articles/read/chu-new-indus...

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