Will innovators be forced to seek the blessing of public officials before they develop and deploy new devices and services, or will they be generally left free to experiment with new technologies and business models? In this book, Adam Thierer argues that if the former disposition, "the precautionary principle," trumps the latter, "permissionless innovation," the result will be fewer services, lower-quality goods, higher prices, diminished economic growth, and a decline in the overall standard of living. When public ...
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Will innovators be forced to seek the blessing of public officials before they develop and deploy new devices and services, or will they be generally left free to experiment with new technologies and business models? In this book, Adam Thierer argues that if the former disposition, "the precautionary principle," trumps the latter, "permissionless innovation," the result will be fewer services, lower-quality goods, higher prices, diminished economic growth, and a decline in the overall standard of living. When public policy is shaped by "precautionary principle" reasoning, it poses a serious threat to technological progress, economic entrepreneurialism, and long-run prosperity. By contrast, permissionless innovation has fueled the success of the Internet and much of the modern tech economy in recent years, and it is set to power the next great industrial revolution-if we let it. This new edition includes . . . Expanded case studies of major technological innovations, including commercial drones, driverless cars, 3-D printing, virtual reality, the Internet of Things, and more A deeper exploration of modern tech critics and their rationales for holding back technological innovation New discussion of "global innovation arbitrage"-that is, the ways in which innovators are now able to move around the globe in search of more hospitable regulatory environments An exploration of how the United States and Europe took different approaches to innovation policy and the results A more detailed look at concerns about economic disruptions associated with new technologies, such as robotics and automated systems An expanded policy recommendations section
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