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The answer to technology is technology. People need better tools for communication and authentication, but tools are public goods, and the market under produces
by CryptoPunk 7y ago
The answer to technology is technology. People need better tools for communication and authentication, but tools are public goods, and the market under produces public goods because there is no way a producer of public goods can capture the value generated through private property rights, and so there's no mechanism in the market to sustain and incentivize producers.
The solution will make both free market advocates and government intervention advocates happy: use public revenue to create better communication and authentication tools. Let consumers freely choose between the tools provided by private enterprise and those produced by government funded development.
If the government fails, consumers are no worse off: they still have their market borne options. If it succeeds, they have better options than they did before.
Regulation of private enterprise is lazy, authoritarian and a case of putting all of one's eggs in one basket.