Governments sporadically got things spectacularly wrong. In 1865, the rail and horse-drawn carriage lobbies in the U.K. drummed up enough outrage to pass the Locomotive Act, whose most notable feature was an absurd requirement that a man walk in front of any self-propelled vehicle waving a red flag and blowing a horn. It stunted the U.K. automobile... See more
(1) New Working Paper: the fundamental driver of growth in modern economies, Total Factor Productivity (TFP), is linear, not exponential.
This is a paper I did not expect to write...
Progress is challenging, not due to a lack of imagination but due to the lack of a blank canvas Maybe Mars is the blank canvas we need to bring us all together