"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Nothing To Fear From New Technologies If The Market Is Free
Submitted by Westernerd on Thu, 2015-04-23 03:00
The main reason so many benefits of new technology are monopolized by those at the top is that the state enforces, well, monopolies. Economic ruling classes are able to enclose the increased efficiencies from new technology as a source of rents mainly through artificial scarcities, artificial property rights, and entry barriers enforced by the state.
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