Correcting Internet DisInformation: The American Space Pen / The Russian Pencil
thank you for this.
And then from his initial investment of >$1,000,000, the Fisher Pen Co. was able to make a lot of money and grow the overall size of the U.S. economy and create lots of jobs.
So essentially a story that is supposed to be about government inefficiency turns out to be a story about how the U.S. government worked with a private company to make space travel safer while also stimulating economic growth.
The moral of the story is not that the Soviet Union was more efficient. The moral of the story is that by failing to allow private investment in innovation, the Soviet Union was doomed.
Incidentally, Paul Fisher, who invented the Fisher space pen, was a fascinating guy. He had this plan to eliminate income and property taxes with a progressive asset tax and even ran for President. And the Fisher Space Pen Co. is still a going concern, still employing people, and still generating a return on Fisher’s million-dollar investment.