Peter Diamandis on Prize Economy

Diamandis, founder of the X Prize Foundation, has an important post on prizes and philanthropy over at Huffington Post. Read it (and the comments) here.

The comments are especially worth reading. Here's a sampling of ideas they raise:

• From an employment self-interest standpoint, disease charities have no incentive to actually cure the diseases they support;
• Prizes should be considered against other options for innovation - e.g. state support, corporate R & D, patent offices, Creative Commons, etc.;
• Various ways to use prizes in education;
• The costs and potential returns of prizes

(Comments are strictly the opinion of the commentator. Just because I pull them out here I do not necessarily agree or disagree with them. I just think they're worth knowing about.)

Tags: philanthropy, prizes