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Both innovation and disruption are useful tools to keep in the chest. A completely free market economy is rife with undesirable downsides, so it's necessary to
by bregma 5y ago
Both innovation and disruption are useful tools to keep in the chest.
A completely free market economy is rife with undesirable downsides, so it's necessary to introduce regulation. Regulations in a capitalist system is rife with regulatory capture usually used to artificially restrict supply. Regulatory capture needs to be disrupted. Disruptors quickly become rent seekers (nice system... shame if something should happen to it). The way around disruptors is to innovate, until the capitalists seek to capture regulations on the innovative.
It's a dynamic system constantly seeking equilibrium. It's not perfect but it seems to be working OK.