Tag: innovation
What Charles Darwin owes Adam Smith
June 16, 2017 | Post
The following is a lightly edited, slightly condensed transcript of the talk “Adam Darwin: Emergent Order in Biology and Economics,” presented by Matt Ridley at the Adam Smith Institute in 2012. I’ve called my lecture “Adam Darwin” to stress how congruent the philosophies of Adam Smith and Charles Darwin are. The common theme, of course, […]
How regulations block economic progress
March 27, 2017 | Post
To discover the Next Big Thing, you need to think outside the box.
Patents are out of control, and they’re hurting innovation
March 14, 2017 | Post
The government issues thousands of new patents every week — each one a new regulation — with little to no oversight or review.
The less work required, the happier we’ll be
March 8, 2017 | Post
Jobs are the means, not the ends in themselves.
How a telephone company used the government to monopolize an industry for decades
March 3, 2017 | Post
“Oh for the days of Ma Bell!” is not a lament we’re likely to hear. And for good reason. Before the breakup of AT&T, America’s telephone system was a government-sanctioned monopoly characterized by stagnant service offerings, high costs, and a glacial pace of consumer-facing innovation. So it was distressing when a federal appeals court engaged […]
We are all living red-carpet lives now.
February 27, 2017 | Post
Last night, millions of movie buffs, entertainment fiends, and celebrity gawkers from across the globe tuned in for the Oscars. While a few of us aficionados waited with bated breath for the announcement of Best Live-Action Short (Timecode was robbed!), for many viewers the awards ceremony isn’t the main event: The red carpet is what […]
Demystifying Bitcoin
February 15, 2017 | Post
Like something straight out of a Neal Stephenson novel, Bitcoin has cyberpunk sex appeal. It foreshadows a radical change in the social and economic order and is shrouded with a mystique and aura that can be difficult to penetrate.
You’re in Joseph Schumpeter’s economy now.
February 8, 2017 | Post
To survive, even the most successful companies have to be willing to quickly dispense with yesterday’s winning business plan
Would you give up the Internet for a million dollars?
December 8, 2016 | Post
Would you give up air travel for $100,000? What about foregoing automotive travel for $500,000? Why or why not?
Animal-loving entrepreneur succeeds despite anti-cat regulators
December 4, 2016 | Post
The petty tyrants that occupy county zoning offices or health departments are exactly why we can’t have nice things.
Defending privilege in a world of disruptive innovation
December 3, 2016 | Post
Two front-page stories in the Metro section of Monday’s Washington Post depict protected service providers desperately trying to fight off innovations that might serve customers better and threaten the comfortable incomes of the established providers.
The co-bots are coming to fast food factories
October 16, 2016 | Post
“We’re going to need to see your birth certificate,” the manager said, making a notation on my employment application, “But you’re hired. Show up a 10 a.m. on Thursday for training.” I was too young and dumb to realize he was calling my bluff. I had to be 16 to take the job and I […]
Let’s tax the iPhone to save BlackBerry
October 13, 2016 | Post
It’s not BlackBerry’s fault the Apple iPhone has become the go-to smartphone for consumers worldwide.
Are Silicon Valley's Chaos Makers Smart or Insane?
September 23, 2016 | Post
Entrepreneurs pitch an endless stream of Ideas. Everyone argues over which can work. A few attract funding. Most fail. This competitive market process ensures only the best survive.
The iPhone 7 of Healthcare
September 10, 2016 | Post
This week Apple released its iPhone 7, the latest tech marvel from Silicon Valley, which has enjoyed relative freedom from government regulation. In contrast, the healthcare industry, which is controlled by countless regulations and edicts, is floundering. Premiums are expected to rise by double-digits again next year, a problem that was supposed to be solved by […]
Nintendo's Rebooted NES Console a Nostalgic Reminder of Our Economic Progress
September 8, 2016 | Post
Adjusting for inflation, that a regular NES and 30 games would be about $2450 in 2015 dollars. And we can get all that today for $70. That’s a 97 percent price decrease without adjusting for quality
Minimum-Grade Legislation, Revised Edition
August 27, 2016 | Post
The real minimum wage is zero, despite the best efforts of the economically illiterate public sector do-gooder.
Self-Driving Ubers on a Collision Course With Regulators
August 23, 2016 | Post
Outdated regulations prove to be a roadblock to ride-sharing innovation.
The Shared Experiences of the Sharing Economy
July 30, 2016 | Post
The English poet John Donne once wrote that “no man is an island.” It often feels quite the opposite what with the ever increasing technological advances made and the preoccupied-with-our-phone age we find ourselves in. Yet, the same technology that sometimes feels divisive is actually one of the best ways to stay connected. (Think Pokémon Go). The […]
Government Launched the First Rocket, but Private Companies Made It Affordable
May 14, 2016 | Post
Fans of increased government intervention in the economy often like to justify their position by pointing to the success of the moon landing. “If we can put a man on the moon,” the refrain goes, “we can surely rebuild our crumbling infrastructure (or provide everyone with healthcare, etc.).” There’s no question the moon landing was […]
How Amazon Turns Trash Into Treasure
April 11, 2016 | Post
I use a lot of books in my line of work. I can get a lot of them from the library. I use Amazon’s Kindle app to download a lot of books and organize my notes on them. Some books—like F.A. Hayek’s Individualism and Economic Order—are available for $0 download or on a website like […]
The Rise of Digital Humanitarians
April 4, 2016 | Post
Technology is putting humanitarianism on steroids. In the video below, digital humanitarians show how e-Nable, a global community of individuals who are using their 3D printers to create free 3D-printed hands and arms for those in need, is transforming the humanitarian community. Dr. Jon Schull, a professor at the University of Rochester and founder of […]
How Entrepreneurship Provides a Helping Hand
April 1, 2016 | Post
For many, a “helping hand” is supposed to come from the government, especially when it comes to things related to health care. But innovation, technology, and entrepreneurship are proving that this is not always the case. In the video below, University of Rochester Professor and e-Nable founder Dr. Jon Schull shows how invention and crowdsourcing […]
Frontier Mentality Necessary to Fix Health Care
March 25, 2016 | Post
For decades, the debate around health care has centered on access. No question access to health care is important. But this focus has ignored — and come at the expense of — topics that are much more important, namely quality and price. In the video below, Robert Graboyes, senior research fellow at the Mercatus Center, […]