Economic growth: inclusive, green, no-cost.

THE GAMECHANGER: A legal framework

So far, development of Modern Markets has been dominated by the profit motive. A next phase could be driven by an equally potent force: regional ambition.

 

Moon, shots

A search for competitive advantage by nations fueled the lunar landings, has started countless wars, and built trade empires. Less drastically, regional aspirations periodically lead governments to initiate new, economy-boosting, public infrastructure. In the case of Modern Markets, policymakers have unique powers of aggregation, regulation, promotion and access to licensing records. That leverage could overcome limitations of commercial platforms.

Electricity, roads, water supply, postage, telephony; all started as tools for an elite. Then a first government created a legal framework that turned an emerging technology into the universal amenity we know today. Putting official facilities behind a nascent technology can slash costs, upend business models, and foster stable services. The resulting public option for a new technology can be highly popular.

We tend not to think about this kind of legislation. That’s an oversight by historians. Legal frameworks for new technologies provided some of the most exciting hinge moments of the last 200 years. Your daily life now depends on them.

 

In this section……

→  About legal frameworks for new technologies: Ignored, opposed, then self-evident.

→  A legal framework for Modern Markets: Markets with benefits bestowed by government.

→  The policy/politics frame: What are the alternatives to a legal framework? And the optics?