If our entrepreneurial innovators had to get permission prior to introducing their innovations, we would still be walking around or perhaps at best riding on the backs of beasts.
Modern democracy suffers from the contradiction that while most citizens mistrust the politicians and the state, and want fewer taxes and less state control, each voter is eager to use their vote in such a way as to get the largest piece of the cake.
Remember: numerical measures are by their very nature retrospective. Epistemologically, information derived exclusively from data analysis will by be both backward-looking and prone to the shortcomings associated with the snapshot fallacy. Which is to say: they are essentially without context.
Julian Simon’s most notable contribution is his demonstration that the human mind is, as he described it, “the ultimate resource.” The human mind is the ultimate resource because it, and only it, creates all of the other economically valuable inputs that we call “resources.”
Despite the warnings made by many economists who urge officials to rethink putting additional restrictions on home-sharing services, residents from other European countries have also been pressuring officials to “do something” about all the prosperity the services have helped to provide.
We are probably being overly confident in claiming that the great merit of crypto is disintermediation of all things. That probably won’t happen.
This is a fight between two political parties and groups desiring to have control of the same governmental machinery for the purpose of planning and directing people’s economic and social affairs in one way rather than another.
The say that you have in the market is always real and effective.
The argument that politics is controlled by some of the wealthy and run for their benefit is largely correct, but the conclusion should be that we should restrict their opportunity to do this by limiting politics and government, not that we should expand them.
George Gilder's recent book might be his biggest seller yet, and this is after a career of rocking both the intellectual and political worlds with visionary works that have anticipated and then defined the technological and policy trends of the times. His book is Life After Google, and its focus is on the rise of decentralization in what he called the Cyrptocon. He explains why the tech giant's business model may not work in the future and how the cryptocon will provide a replacement.
Producers, on average, capture a 2.2 percent of the total benefits of their successful introduction into markets of technological advances. A whopping 97.8 percent of those benefits are enjoyed by people each of whom as a consumer did nothing other than exercise his right to spend his money on those options that he judges best for himself.