Permissionless Innovation: Unshackling Potential or Unleashing Chaos?

The Answer Is Transaction Costs

What limits innovation? Is that good? I talk to Adam Thierer, senior fellow at the R Street Institute, exploring the concept of permissionless innovation and its far-reaching implications. From ancient Mesopotamia to the digital revolution, we unpack how policy context shape the trajectory of innovation and, consequently, our society.
With Aaron Wildavsky saying "Go!" and my son Kevin Munger saying "Not so fast, there Scooter!", we venture into the contentious territory of innovation intellectual property rights in an era of digital sharing.
FOUR TWEJs (trying to keep THAT weekly, at least), and some great letters.
LINKS:
PAPERS and BOOKS by ADAM THIERER:

• https://rtp.fedsoc.org/paper/the-coming-onslaught-of-algorithmic-fairness-regulations/
• https://fedsoc.org/commentary/fedsoc-blog/the-problem-with-ai-licensing-an-fda-for-algorithms
• https://news.bloomberglaw.com/us-law-week/overregulating-ai-will-disrupt-markets-and-discourage-competition
• https://www.rstreet.org/people/adam-thierer/
• https://www.amazon.com/Books-Adam-Thierer/s?rh=n%3A283155%2Cp_27%3AAdam+Thierer

Money Pump:

• https://www.oxfordreference.com/display/10.1093/oi/authority.20110803100205601#:~:text=The%20concept%20was%20introduced%20by,willing%20to%20pay%20for%20it.
• https://johanegustafsson.net/books/money-pump-arguments.pdf

Aaron Wildavsky, SEARCHING FOR SAFETY, https://www.routledge.com/Searching-for-Safety/Wildavsky/p/book/9780912051185

Calestous Juma, INNOVATION AND ITS ENEMIES https://academic.oup.com/book/25649

William Baumol, ENTREPRENEURSHIP (article) https://www.sciencedirect.com/science/article/abs/pii/088390269400014X

Epstein and Munger on Capitalism and Stagnation https://www.youtube.com/watch?v=4o-s541UKgI

Munger on “Permissionless Innovation” on Econtalk https://www.econtalk.org/michael-munger-on-permissionless-innovation/

If you have questions or comments, or want to suggest a future topic, email the show at [e-mail] !

You can follow Mike Munger on Twitter at @mungowitz

Chapters

1. Permissionless Innovation: Unshackling Potential or Unleashing Chaos? (00:00:00)

2. Cultural Attitudes and Permissionless Innovation (00:00:01)

3. The Power of Permissionless Innovation (00:06:38)

4. Permissionless Innovation and Intellectual Property (00:14:55)

5. International AI Control Concerns and Limitations (00:25:53)

6. Inspections and Innovation (00:32:38)

7. The Pacing Problem and Evasive Entrepreneurs (00:37:34)

8. Transaction Costs' Impact on Change (00:49:31)