Product Review

What policy vision will govern the future of technological innovation? Will innovators be forced to constantly seek the blessing of public officials before they develop and deploy new devices and services, or will they be generally left free to experiment with new technologies and business models?

In this book, Adam Thierer argues that if the former disposition (“the precautionary principle”) trumps the latter (“permissionless innovation”), the result will be fewer services, lower quality goods, higher prices, diminished economic growth, and a decline in the overall standard of living.

When public policy is shaped by “precautionary principle” reasoning, it poses a serious threat to technological progress, economic entrepreneurialism, and long-run prosperity. By contrast, “permissionless innovation” has been the secret sauce that fueled the success of the Internet and much of the modern tech economy in recent years, and it is set to power the next great industrial revolution—if we let it.