People sometimes ask me, “What is the most important concept in political economy?”
The answer is easy, but subtle: permissionless innovation, a strong presumption in favor of allowing experimentation with new technologies and with new business platforms that use those technologies. A lot has been written about why this vague concept is so powerful (my own go-to source is Adam Theirer’s Permissionless Innovation).
It’s at the core of what Friedrich Schiller, the German philosopher and poet, wrote about in a letter to a friend in 1793 where he describes the beauty of the “Englische Tanze” (English dance):….. Read More
