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The Price of Innovation - Megan McArdle

Dean Kamen has some lengthy thoughts on innovation that are well worth reading. As the article notes, besides the Segway and the world's first stair-climbing wheelchair, "His innovations include the first wearable infusion pump, a portable kidney dialysis machine, a more flexible stent, one of the world's most advanced prosthetic arms, and many other devices used in the treatment of diabetes, heart disease, cancer and other conditions". Kamen's core point is that innovation is expensive. You can't stop rewarding innovators and expect to have as much of it.