> Hence, more money going into bits. And more instant billionaires. Also no cure for cancer, or flying cars or (insert 1950's projection of the 21st century here).
Other countries like China have close to zero regulation compared to the USA in many areas. Why are there no Chinese cures for cancer or flying cars, if regulation is the overwhelming reason why?
Actually Chinese medical regulation is in some ways worse than America! (I work in medical devices.) it's certainly more arbitrary.
But the larger answer to that question is that China is still moving into the first world, a process that would be retarded if they were throwing massive amounts of capital into R&D
Other countries like China have close to zero regulation compared to the USA in many areas. Why are there no Chinese cures for cancer or flying cars, if regulation is the overwhelming reason why?