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Words & Numbers: Government Can't Stop Creative Destruction
Posted
May 24, 2017
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as posted by the channelSupport Out of Frame on Patreon
Watch our newest video, "The 1970s are back. Yaaaayyyy."
Check out our podcast, Out of FrameBehind the Scenes
Technology doesn’t just change things, it utterly destroys things. And that’s just fine. It happens so often that people barely even notice when it does. Think about all the new services that have come to market just over the past few years: Uber, Airbnb, Redbox … the list goes on and on.
But that’s only half the story. In turn, the list of services replaced by these new ones is similarly long: taxis, hotels, Blockbuster, etc. And workers in these industries often lose their jobs in the line of creative destruction. We generally accept this as the price of innovation, but many people try to use the government to stop this by blocking the new services.
Today we’re seeing this with more politically well-connected industries like taxis and hotels. Pressure is put on Uber and Airbnb, respectively, to “protect” the established industries they are upending.
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Words & NumbersSupport OutPatreon WatchYaaaayyyy CheckFrame BehindScenes TechnologyUber Airbnb RedboxLearn More
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