Skip to comments.EU should keep out of innovation's way, Wikipedia founder says
Posted on 05/12/2012 10:37:20 PM PDT by Olog-hai
To encourage innovation in Europe, policymakers should just keep out of the way, Wikipedia founder Jimmy Wales has said.
"I agree with the idea of streamlining and simplification. The only thing is that I would be much more extreme," he told EUobserver on Tuesday (8 May) on the sidelines of a conference in Brussels on EU innovation policy organized by global accounting firm Ernst & Young.
"The most important thing that Europe needs to do to spur innovation is to eliminate barriers," he added. "To make it easier for investors and entrepreneurs to start businesses and to make it easier to fail."
Compared to his native US, founding a company in Europe is famously burdensomeeven though big differences exist between the north and the south of the continent.
In the US, the whole process does not have to take longer than five minutes. In Greece, it can take up to ten months.
Wales, who recently started work as an (unpaid) advisor to the UK government in London, is a strong believer in the free market.
(Excerpt) Read more at euobserver.com ...
John Stossel wrote this story which told how he took a week to open a business in Delaware (picked because of its being easier than most other places in the US). It would have taken a month in the UK or India, but only a day in Hong Kong.