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Comment by moog | Hacker News Reader

Innovation rarely comes from large companies - especially European ones. Big companies know this and don't care anyway... they can depend on ill-informed politicians and a general public who think Bill Gates is a really cool guy ('he invented the moderen world, don't ya know') to throw money at them.

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I agree. I'm from Europe, and I watch European companies get whooped by their American competitors on a regular basis. I do think we are better off with subsidized businesses (they prevent monopolies, which are bad), but there aren't many European corporations who both get governmental support and happen to be the world leader in whatever they do. I doubt there's even one.

You guys do make the best and most popular trains for export (ie. Siemens and Alstom). Alstom's TGV also consistently holds world record in speed.

"subsidized businesses (they prevent monopolies, which are bad)"

I always like it how the biggest monopolist ever (in my native Germany monopolizing or near-monopolizing by force education, transport, health care etc) is so eager and capable of "preventing evil monopolys" out of other peoples funds. Very protective. I feel so secure. shudder

;)

You've clearly never had to use UK public transport. Living there for 5 years made me appreciate just how awesome transport is in Austria. Market forces don't seem to work for trains. I think infrastructure is one of the few things (the only thing?) that is better off regulated.

It's not so much the market forces as the way the privatisation was structured, and the perverse incentives that were created. The tube is a good example - there are multiple maintenance firms, line management firms, Transport for London, the unions, etc. All of them have competing agendas, which doesn't fit well when they are providing one product. I would be happier with a public monopoly than the current situation, and would accept a private monopoly instead of both, contingent on them getting the incentives right.

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