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    His "case in point" using energy technologies actually demonstrates that his assumption that government bureaucrats and policy makers are wise enough to direct "innovation" and technology change is probably false.

    Five decades ago we were building CO2 emission free nuclear power plants at a rapid rate and the economics and safety were looking better and better. When including the big accidents that have occurred with this technology, the world was getting far more CO2 free electrical energy per life lost, life injured, land area impacted, and resources utilized than any of the alternatives. Relative to the risks of other energy sources this was the best option, but our "wise" policy makers decided to regulate the industry to death by preventing most innovation making the technology static. I was working in this area five decades ago and developed a minor innovation that would save about 10 million per reactor and my boss told me "great idea, but it will cost more to get it approved through the regulatory system than the savings" so I shifted to other areas. Innovation in this area of CO2 free energy was killed by government bureaucrats, non-hard science academics, activists, and policy makers.

    The biggest innovation in energy in the last 4 decades that has completely upset the the CO2 production per unit of energy, economics, international power relationships, and international politics has been the fracking revolution producing both gas and oil while destroying the market for coal and the power of OPEC. This dramatically decreases the CO2 emitted per unit of energy to great benefit to the world. Before fracking, the rise of the Middle East and Islam as major factors in the world driven by oil, which was becoming the dominate energy source and source of instability with huge and unstable price spikes. However, with fracking natural gas became a cheap, reliable and dispatchable energy source that is well distributed around the world.

    This entire shale fracking revolution was unsupported by the government agencies who like the EPA spent freely trying to find something wrong with fracking. Per unit of energy, gas is far superior to coal and oil and depending upon how you weight factors like ability to match supply and demand, energy storage requirement, and environmental area impacts in a life cycle analysis (LCA) it can be superior to solar and wind that require massive overcapacity and expensive, resource intensive energy storage to actually be a real competitive source at scale. His statement of solar and wind out-competing only works when they are a minority of the market (ie not solving the CO2 problem) only when the sun shines.

    Due to the fact that mineral rights can be private property in the US, small companies could developing fracking technology producing gas that has decreased our country wide CO2 emissions more that all the solar and wind combined.

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    The author's position is one you are familiar with - that only the government knows what the people want or need. This gets us the F35 that the navy refuses to buy and government cheese that the people refuse to eat.

    Google, Facebook, Amazon and Microsoft are 25% of the stock market because they provide 25% of peoples needs. Sure, you can 'split them up' but then who will give you free search, free social networks, free delivery or free software? These things are free BECAUSE they take and use/sell your data and BECAUSE they capture users in their sticky ecosystems and monetize you down the line. Sure - you can regulate those things away but then who wants to pay 50 cents a search, $50 a year for Facebook or $15 for a delivery from Amazon?

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    "namely, for labor-replacing automation and surveillance"
    You are misinformed. None of the big tech firms sell these products in any meaningful sense. Apple sells phones, Googles sells ads, Amazon sells products and Microsoft sells software not of this type.

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    The Zune was a better product. It was just second to market. Nobody knows who is the 2nd fastest man after Bolt.

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    I don't think you have a proper understanding how current AI works if you think it can ensure privacy or free political discourse. State of the art AI today are neural nets which can only generalize from data - that is all they do. To simplify it down it can use (very large amounts) of math to differentiate between pictures of cats and dogs.

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    I agree with the article. Google recently shut down the Play Music music player to force Android phone users to download YouTube Music, a paid service. So that way Google thinks to force people to pay for a service, the player, which was previously free. Here we can clearly see how harmful monopolies are.

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    Prof. Acemoğlu still thinks breaking up the companies enjoying network effects and non-increasing marginal cost is a good idea.
    But it is not 60's and we won't enjoy having 35 different facebook accounts.
    Yes, time is running out! He also seems to be running out of ideas as he does not provide any idea how to shape technological change he is talking about.
    Also it is not that other R&Ds crowding out renewable energy R&D, but our pricing system sucks.

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    Where are your suggestions for possible policies? How would you "steer research?" Who determines which "needs, business models and vision" are most important or what problems are determinative? And how do you leave space for the creativity and innovation that allow for independence of thought and the people whose ideas have not yet percolated into a future no one else has yet concieved?

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