Regulatory Fiat Cannot Create A Market At

But Actually Theory Is Very Practical. Gravity Is A Theory, For Example. It Allows You To Predict That If You Step Off A Cliff You Will Fall; You Don't Have To Collect Data On That.

The Important Thing Is That Over Time, Scientific Progress Transforms Things That Used To Have To Be Dealt With In A Problem-solving Mode Down To The Pattern-recognition Space; And From Pattern Recognition Into The Rules-based Mode. This Is The Mechanism By Which Less-trained People Are Enabled To Do More Sophisticated Things. This Is Always The Way Disruption Happens. It Enables A Larger Population Of Less-experienced People To Do More Sophisticated Things.

History Is Littered With Great Firms That Got Killed By Disruption. Of Course, The Personal Computer, A Technology That First Took Root As A Toy, Got Digital Equipment Corporation. Kodak Missed The Boat For A Long Time On Digital Imaging. Sony Was Slow To Get Mp3 Technology. Microsoft Doesn't Know What To Do With Open Source Software. And So On.

Purpose Must Be Deliberately Conceived And Chosen, And Then Pursued.

Justification For Infidelity And Dishonesty In All Their Manifestations Lies In The Marginal Cost Economics Of “just This Once.