The best example available to us today is the information and digital revolutions of the past 50 years. In general, the period from the 1970s to the 2020s has seen welfare statism slowly growing more entrenched in the United States. However, information and digital technology has remained largely free and therefore prosperous. The individual rights of innovators and entrepreneurs have been less violated by regulation in these sectors than elsewhere. Producers in this field have had more freedom to put their thoughts into action without government interference than have people in any other area of society. The absence of regulation has allowed them to keep up the high pace of innovation—no need to wait for government approval before charging ahead—and contributed to extraordinary profits, which for the most part they have reinvested in their businesses.
The results have been spectacular both in the information and digital technology sectors and in the many other industries that have benefitted from adopting the advances of this revolution.
Think Right or Wrong, Not Left or Right 