Rubbish. Humam activities have been regulated for 1000's of years. Progress ocurred. Greater power and complexity, and therefore greater societal danger, means more regulation required.
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What you say is true; but it misses
@Plinz point entirely: much of the regulation of which you speak happened after the unregulated innovation. Consider, for example, the humble boiler... - 3 more replies
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Medicine is heavily regulated and seems to be making progress. Consumer electronics are regulated, if not as heavily, and progress is absolutely going strong. Industrial automation is sort-of regulated (OSHA, industrial norms) and progressing. Incentives trump regulation.
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I'd argue that after a period of rapid progress in the last century, medicine has stalled. Life expectancy and quality of life are basically not increasing, but costs are exploding. We cannot even grow new teeth.
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How is preventing the nasty side effects of innovation related to progress halting?
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