It monopolizes these functions by crowding out any private investment there might have been. Private companies like AT&T/Bell Labs and IBM used to do LOTS of research. Now it's all in the realm of the government, thanks to their massive expenditures in the area.
Business innovates because there are huge profits to be made in making people's lives easier and better off. Government doesn't innovate. It merely saps innovation that would have occurred in the private sector.
Business innovates because there are huge profits to be made in making people's lives easier and better off. Government doesn't innovate. It merely saps innovation that would have occurred in the private sector.