By providing rewards for bureaucrats and punishments for merchants, many rulers destroyed interest in entrepreneurship and innovation outside the state.
Google can concentrate on innovation and profits — or it can focus on bureaucratic rules against thoughtcrimes. Google has apparently chosen the latter.
The fact that the state hands out money to entrepreneurs like Elon Musk is a problem that is best solved by focusing our ire not on people like Musk — but on the state itself.
Practice and theory are often seen as being distinct and in conflict with each other. But, hands-on entrepreneurs can learn a lot from economic theory.
