The real issues should not be lost in the noise. Are people sharing? Not always. But, then again, that really isn’t what the sharing economy is about. Instead, they are benefitting from mutually beneficial interactions that would not be possible without the sharing economy’s platforms.
This paper highlights some of the opportunities presented by the rise of the so-called “Internet of Things” and wearable technology in particular, and encourages policymakers to allow these technologies to develop in a relatively unabated fashion. As with other new and highly disruptive digital technologies, however, the Internet of Things and wearable tech will challenge existing social, economic, and legal norms.
The sharing economy of today must be allowed to compete with and challenge the business models of the past. And – just as important – tomorrow’s innovators must be able to challenge today’s upstarts, who will soon enough be the incumbents.
Daniel Klein, Xiaofei Pan, Daniel Houser, Gonzalo Schwarz |
Emile Durkheim said that when all of the members of a tribe or clan come together, they can sanctify the sacred and experience a spiritual “effervescence.” Friedrich Hayek suggested that certain genes and instincts still dispose us toward the ethos and mentality of the hunter-gatherer band and that modern forms of political collectivism have, in part, been atavistic reassertions of such tendencies.
In this article we survey the type of financial instruments and transactions that will most likely be of interest to regulators, including traditional securities and derivatives, new bitcoin-denominated instruments, and completely decentralized markets and exchanges.
Unmanned aerial vehicles (UAVs), commonly referred to as “drones,” have gained media attention over the last several years with much of the focus centering on their military uses and their emerging role in newsgathering. News organizations, journalists, and private citizens have employed UAVs to capture and share breaking news, to provide glimpses of natural disasters that would otherwise be too hazardous for journalists to obtain, and to offer unique perspectives that enrich news storytelling.
Elected leaders delegate rulemaking to federal agencies, then seek to influence rulemaking through top-down directives and statutory deadlines. This paper documents an unintended consequence of these control strategies: they reduce regulatory agencies’ ability and incentive to conduct high-quality economic analysis to inform their decisions.
As the battle to trim American waistlines heats up, the U.S. Food and Drug Administration has joined in the fray with not one, but two rules aimed at improving the nation’s diet. The rules constitute the biggest change to the Nutrition Facts label in over two decades.
The U.S. Food and Drug Administration has recently proposed expanding its regulatory authority over tobacco products to include the regulation of cigars, pipe tobacco, hookah tobacco, electronic cigarettes (e-cigarettes), and other novel tobacco products such as dissolvable products and gels. Cigars are the most commonly used among this group, though e-cigarette use is rapidly expanding.
Libertarians intuitively understand the case for patents: just as other property rights internalize the social benefits of improvements to land, automobile maintenance, or business investment, patents incentivize the creation of new inventions, which might otherwise be undersupplied.
Join Tyler Cowen and Peter Thiel in a serious dialogue on the ideas and policies that will shape the future of innovation and progress. This is the inaugural event of the Mercatus Center’s new Conversations with Tyler event series.