2015 has already passed, but still, anti-gravity hoverboards are far from being a reality. This is despite the fact that we have been made to believe we would have this technology in the movie "Back to the Future II"
Furthermore, even until now, flying cars are nowhere to be found on main streets, despite being a prominent feature of "The Jetson", a cartoon series which began more than 50 years ago, in 1962, to be exact. These disappointments may cause us to wonder what the major holdover from having this technology is, and it could be overregulation, as said by Glenn Reynolds.
In his article on USA Today, he further stated that advancement in technology has slowed drastically lately. He firmly believes that technological advancements are becoming more stagnant than they were in the 60's or 70's, and this is because we have been able to invent the basics.
As a matter of fact, there have been a lot of new technological advancements and developments which took place in the first few decades of the past century. Among these advancements and developments include the invention of wireless signal transmission by David Edward Hughes, an engine of the internal combustion type created by Karl Benz, and the all-familiar light bulb by Thomas Edison.
Due to the innumerable innovations, Robert J. Gordon, an economist at Northwestern University named 1870 to 1970 a "special century" for having improved living standards, and growth in the economy. The trend was not thwarted by any of the world wars, rather, the slowing down of innovations began in 1970.
The slowing down is primarily blamed on a surge on regulations set through legislations. If regulation policies would be stiffer than they are, it would be difficult to see what more innovations we can think of.
Given that, regulations have to be given a revamp.
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