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In the past sixty years, transistor sizes and weights have decreased by 50 percent every eighteen months, following Moore's Law. Smaller and lighter electronics have increased productivity in virtually every industry and spurred the creation of entirely new sectors of the economy. However, while...
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may even reduce welfare. The reason is that it crowds out proprietary innovation which on net may reduce total innovation … in the long run. These effects would be reinforced if philanthropical innovation diverted people from other productive …
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