In a recent series of posts I discussed how increased government control over health care in America would devastate the medical technology industry and stifle innovation. But the negative effect that government interference has on innovation is true for any industry. From cookware to computers, men will only invest time, money and thought on developing new products if they project the payoff to be worth it. The more the success of a potential product is subject to the dictates of Washington bureaucrats, the less likely that potentiality will be made real. The more regulatory hurdles one has to overcome to achieve a dream, the less likely one will make the effort to overcome them.
This past Monday bore witness to the achievements possible to man when he is left free. In a hangar in the Mojave desert, Sir Richard Branson and his team at Virgin Galactic lifted the veil off Space Ship Two, the world’s first commercial spacecraft. Space Ship Two will take passengers to a height of 68 miles above Earth, well beyond the recognized border of space. It is one of a number of private spacecraft being developed in the nascent space tourism industry, which will make it possible for private citizens to experience wonders previously reserved for government astronauts.