 significantly, why is technological breakthrough slowed? I mean, if you think of the technological breakthroughs at the turn of the century, you think of the Wright brothers, Thomas Edison, so going to electricity, going to oil, going to the internal combustion engine, automobiles, airplanes, I mean, these are massive, massive, life-changing, world-shattering changes to everything. Now it's true, we have had a computer revolution and indeed almost all the productivity gains over the last 40 years are the consequences of computers, of the integration of computers into business, the replacement of employees with machines, with algorithms, with robots, with everything. So whatever productivity gain we have seen, it's come from this one industry, but we're not seeing much innovation elsewhere. We're still using fossil fuels. Now, damn good, but what happened to the, to nuclear? What happened to flying cars? What happened to mining asteroids? What happened to the massive potential that exists out there in the space of big physical products to improve dramatically beyond just the computing power? Again, one has to ask the question, what makes innovation possible? What makes progress possible? And here one has to rely on Ayn Rand and Austrian economists. What makes innovation possible is the human mind, is people thinking, is people exploring, it's people experimenting, it's people trying and failing and failing and failing and failing and failing and failing and failing and failing and then succeeding, as Thomas Edison, as the Wright brothers. What progress, technological progress, innovation requires is an entrepreneurial mentality. An individualist holds, pushing ahead, taking risks, failing, experimenting, trying, getting up on your feet, going ahead again, trying again, failing, it requires experimentation. It requires the human mind to be free, to think, to innovate, to progress and it requires the freedom to apply those thoughts in reality, in reality. That is, it requires the freedom, the freedom to build businesses, to fail at businesses, to experiment, to try new things. And the fact is that other than in the Silicon Valley world, and that world is going away in my view, but other than in the technological world, we have no, none of that freedom anymore. I mean, I was just reading that the European Union wants to regulate the power connector for phones and devices. They want to make sure that all devices have the same connectivity so that you, the consumer, will only have to buy one cable for all your devices. Isn't that wonderful? And they're upset because Apple uses one type of cable and everybody else uses a different type of cable. So they want standardization of cables. I mean, this is how you destroy innovation. You start regulating the minutiae. You start regulating every aspect of a business. You tell people when they, what businesses they can start, what they can start, what things they can experiment in, what they can't. They have to wear goggles. Otherwise, you could go to jail, I guess, or get fined. Imagine if you told Thomas Edison he had to wear goggles and he had to have sprinklers and he had to invest millions of dollars in safety, he would have never done what he did. Or the Wright brothers. Oh no, no, that's too risky, guys. We live in a culture where the government stifles risk-taking. It stifles innovation. It stifles experimentation. The FDA makes it almost impossible to bring a new drug to market. The innovation in healthcare that would be allowed if you privatized the FDA and you had private institutions who regulated for the private sector drugs is unimaginable as compared to what we have today. Now, of course, one of the funny things about the European Union is they're gonna regulate which cable you stick in the thing just as Apple is announcing. We're not gonna have any cable. Everything is gonna go wireless, right? Everything is gonna go wireless charging. But that's regulation would stifle that. They say, wait a minute, it has to have a cable. You can't produce products without the ability to charge with a cable. What about all the cables you're on bought and has, you know, you can't not offer that option. That's what we're getting to. So it is the regulatory agency. It's a regulatory mentality that is stifling economic growth. That is stifling a lack of productivity. That is stifling entrepreneurship. And it's true that we lack an investment in research and development and education. But that's because government has crowded out private investment from these fields. We have no massive investment in education because the government controls education and our educational system sucks is the technical term. In order to produce entrepreneurs, we have to have people who can think. Not just think by the book. Not just think, but think creatively. Think outside of the box. Think independently. And for that you would need a vastly different educational system than what we have today which is about what learning, if it's about learning at all, when it's not about socializing. But even Europe's better educational system, I don't know, Finland or whatever, are not producing thinkers. Not producing innovators. Not producing producers. Not producing risk takers. Indeed, we've taken risk out of life. Risk is dangerous. We don't want people to take risk. And we teach them not to take risk. As parents, we do the same thing. We discourage us taking. So we have a culture of people who should be the innovators who are afraid to take risk, afraid to fail. I mean, the US is better than Japan in this, better than Europe in this, and in the US it's still acceptable to fail. In these other countries it's not. The dream job of a Frenchman is a government job as a civil servant with a lifetime income and a lifetime pension and everything. That is an ideal. But that's what needs to be chucked. We need to encourage risk taking. We don't want a stronger social insurance network. You want people to feel like they are responsible for their own lives, they're responsible for bringing in the money that we live in a world that is not structured to protect you. But one that is structured to allow you to benefit from freedom. Allows you, leaves you alone to produce, to create, to build, to make. Free of mother government, paternalistic government sitting on your shoulder telling you what you can and cannot do. What you can and cannot produce. How much you can and cannot pay your employees? You want increasing productivity. What you need is more freedom. Freedom in the school system by privatizing it, allowing for real competition in innovation in schools. Freedom in science and research and development by taking the government out of science funding so that entrepreneurs and individuals and corporations and businesses start investing in science but in science that can be turned into technology. Science that can be turned into increasing productivity. What we need today, what I call the new intellectual would be any man or woman who is willing to think. Meaning any man or woman who knows that man's life must be guided by reason, by the intellect, not by feelings, wishes, women's or mystic revelations. Any man or woman who values his life and who does not want to give in to today's cult of the stare, cynicism and impotence and does not intend to give up the world to the dark ages and to the role of the collectivist growth. 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