Chairman Pai Remarks at the Resurgent Conference
It is sometimes hard for government to be on the side of innovation. Before change occurs, it’s often easier to identify and focus on those who will be hurt than those who will be helped, even if far more people will be helped in the end. Or to paraphrase the French economist Frédéric Bastiat, policymakers have a destructive habit of focusing on that which is seen, without acknowledging that which is not seen. Instead of viewing innovation as a problem to be regulated based on rules from the past, government should see innovation’s potential, guided by markets that embrace the future.