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Today’s neo-Luddite tech critics suggest that we should just be content with the tools of the past and slow down the pace of technological innovation to supposedly save us from any number of dystopian futures they predict. If they succeed, it will leave us in a true dystopia.
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Does the picture of a huddled mass of homeless people outside a robotic coffee shop suggest the ruins of late-stage capitalism? I think not. It represents instead the “great deal of ruin” policymakers create when they make policy as if the laws of supply and demand are optional.
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Government regulation isn’t just bad because it ignores the unintended consequences that restrictions produce over time. Regulation is also bad because it invites cronyism.
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If Schumpeter were alive today, he’d have two important lessons to teach us about the techlash and why we should be wary of misguided interventions into the Digital Economy.
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Social media companies like Facebook obviously want to comply with the law, but they would also like to stay in business. That business depends fundamentally on targeting based on some demographic grounds. If a consistent application of non-discrimination law means that advertising has to become completely random to be compliant, Internet economics will experience the fate of…
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Translating what is completely mindless, the federal government is ultimately persecuting Huawei for being successful.
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Every new technology comes with an awkward stage of adoption, during which time people get manipulated and break every kind of rule of propriety until they figure out a better way.
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Technology rarely does what we hope or predict it will do. In a year of falling exchange rates and failed ICOs, Facebook’s co-option of blockchain technology might be the best news for the industry of 2018.
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Some great minds are remembered mostly for one moment in time, a momentous action or revelatory piece of writing. Such is the case for John Perry Barlow, who died on February 7, 2018. Born in 1947, he was a remarkable visionary, a lyricist for the Grateful Dead who later became a founder of the Electronic…
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Blockchain technology could be essential to making the cars of the future run.
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