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Patent Reforms to Encourage Innovation and Competition

The original justification for patents and copyrights was to secure the moral right of holders to determine the use of their creations. For some time now, however, patents have been justified in terms of their economic utility. According to this view, market exclusivity is necessary for motivating inventors and investors to put time and money…

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Winning the Race in Quantum Computing

Imagine a computer solving the mathematical problems that today’s fastest supercomputers can’t begin to unlock, in less than a blink of an eye. Imagine a technology that can enable an observer to see through walls, or see into the darkest depths of the world’s oceans. Imagine a technology that can build essentially unhackable global networks,…

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The American Way of Innovation and Its Deficiencies

Apple, Alphabet (the parent company of Google), Microsoft, Amazon, and Facebook are the world’s largest companies by market capitalization. The United States is also, by many measures, the leader in university research in basic science. From this perspective, American innovation seems alive and well. But it’s a different story when it comes to actually making things.…

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Cryptocurrencies: Commodity Dynamics and Cartelization

Bitcoin and the other altcoins now have more “experts” than perhaps any other market. I am no such “expert”: I am neither a cryptographer nor a computer programmer. I am a currency and commodity trader of thirty-plus years, and I approach the cryptocurrency market from that perspective. The cryptocurrency market cannot easily be dismissed, despite…

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A Long-Term Perspective on the Gig Economy

In July 2017, Don Lane, a courier working in southern England for the German logistics firm DPD, attended a hospital medical appointment regarding his deteriorating diabetes condition. The firm fined him £150 because as a result he failed to deliver his allocation of parcels for the day. In the following months his diabetes worsened; he…

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Tech Platforms and the Knowledge Problem

Friedrich von Hayek, the preeminent theorist of laissez-faire, called the “knowledge problem” an insuperable barrier to central planning. Knowledge about the price of supplies and labor, and consumers’ ability and willingness to pay, is so scattered and protean that even the wisest authorities cannot access all of it. No person knows everything about how goods…

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Against the Deformations of Liberalism

Patrick Deneen’s Why Liberalism Failed is a blistering critique of contemporary American culture and its foundational philosophy of liberalism. Deneen’s surprising argument is that “liberalism has failed because it succeeded,” and that the bankruptcy of liberal ideas has resulted in unsustainable forms of political community…

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Edison’s Legacy: Industrial Laboratories and Innovation

Between 1999 and 2016, the U.S. share of global high technology exports dropped from 18 percent to 7 percent. From one of the world’s leading technology product exporters prior to 2000, the United States has become a net importer since then, and the deficit keeps growing. During this period…

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The Detached Literature of Remote Wars

In the literature of our post-9/11 wars, the circuit between the home and the field of battle has been severed. Because of that fracture, our stories have struggled to convey the novelty of contemporary combat with the depth and significance that literature demands. Most often, recent war fiction ends up collapsing into exhausted and facile…

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The Conservation of Coercion

It was the anarchists who first told me about the Kapauku Papuans. Among the Kapauku, in West New Guinea, there was no state administration of justice; instead, both civil disputes and grave crimes were adjudicated by a caste of private citizens called tonowi. As tonowi travelled the highlands, collecting evidence, pronouncing judgement, and suggesting sentences, their reputations would spread. The wisest and most impartial tonowi were in high demand, and could command a correspondingly high price from a village for their assistance in settling a dispute. A tonowi who developed a reputation for corruption or partiality, however, would soon need to find a new line of work. Past judgements of great tonowi in difficult cases formed an evolving body of common law that helped inform new cases…

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