Technology and Government Shouldn't Mix

Mises Institute
Dec. 17, 2015

We live in a time like never before in human history. Our scientific knowledge and technological capabilities are rapidly advancing, affecting nearly every aspect of human life. Examples are rife, from smart phones and robotics, to thought-controlled prosthetics, wireless power, even force fields. Countless others that sounded like science fiction a few years ago don’t even deserve mention today as they have become so commonplace.

In the nineteenth century, the Industrial Revolution marked the beginning of the process we see at work, when (mostly) free market capitalism unshackled society’s productive imagination. The key was that it allowed individuals to reap the fruits of their labor, providing incentives for workers and entrepreneurs by allowing them to accumulate capital. Capital accumulation is the prerequisite for a prosperous society, without it there can be no sustainable investment or economic growth.

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