Information technology not only makes existing processes more efficient, it empowers entirely new business models, products and platforms. The physical category’s “information gap” is a drag on growth and helps explain the productivity paradox: Many workers seem not to have benefited from apparent rapid technological advance.
Fortunately, many physical industries are poised for dramatic transformations into digital industries—if we let them.
Writing in U.S. News & World Report, Tom Grennes makes a strong case for repealing the Jones Act. (Here’s a paper, published by the Mercatus Center, that Tom wrote on the Jones Act.)