That's the point. Market mechanisms will only fund things that will obviously succeed in a short time. A market cannot innovate or be creative. A single person, with a proven track record of being ahead of the curve, can.
>and wasting a bunch of resources
The tremendous excess of resources we enjoy today comes from allowing a large number of people to explore ideas without first proving that does ideas were guaranteed successes. Not only can we easily afford to waste resources, we can't afford not to.
That's the point. Market mechanisms will only fund things that will obviously succeed in a short time. A market cannot innovate or be creative. A single person, with a proven track record of being ahead of the curve, can.
>and wasting a bunch of resources
The tremendous excess of resources we enjoy today comes from allowing a large number of people to explore ideas without first proving that does ideas were guaranteed successes. Not only can we easily afford to waste resources, we can't afford not to.