November 19, 2014

Embracing a Culture of Permissionless Innovation

Adam Thierer

Senior Research Fellow
Summary

Permissionless innovation can help spur the next great industrial revolution by unlocking amazing opportunities in these and other arenas, boosting long-term growth in the process.

Contact us
To speak with a scholar or learn more on this topic, visit our contact page.

“Why does economic growth… occur in some societies and not in others?” asked Joel Mokyr in his 1990 book, Lever of Riches: Technological Creativity and Economic Progress.1 Debate has raged among generations of economists, historians, and business theorists about that question and the specific forces and policies that prompt long-term growth.

As varied as their answers have been, there was at least general agreement that institutional factors mattered most—it was really just a question of what mix of them would fuel the most growth. Those institutional factors include: government stability, the enforceability of contracts and property rights, tax and fiscal policies, trade policies, regulatory policies, labor costs, educational policies, research and development expenditures, infrastructure, demographics, and environmental factors.2

Continue reading