Can regulation foster innovation or does it merely stifle it?
In short: Professor Michael Mainelli explores the inherent tension between technological progress and the rules meant to govern it. This lecture examines how we can shape innovation through standards while protecting the market's health.
Mainelli analyzes the definition of innovation and its relationship to success, questioning where new ideas truly originate. He argues that regulation and standards are not just barriers; they can be tools to mold specific patterns of innovation.
The core thesis suggests a shift toward encouraging 'bio-diversity' in markets. Rather than rigid control, the goal should be to lower risk, improve infrastructure, and safeguard competition to allow diverse innovations to thrive in an evolving landscape.
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Sources
- Summary by Intellect · source: How to Innovate, What to Regulate: Conference Introduction - Professor Michael Mainelli
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