Given that everyone is getting older and more prone to disease, medical innovation is one of the most important measures, if not the most important measure, of a successful health policy. Technological acceleration, including advances in genomics and stem cell research, suggest that we are on the cusp of a golden age of medical innovation.
Regulation can be a significant barrier to innovation, protecting incumbents and making it harder to bring new goods and services to market. Determining the appropriate regulation is all the more difficult when accelerating technology is creating many new opportunities as well as potential dangers. Can the administrative state itself innovate to promote beneficial innovation?
Michael J. Lotus is the author America 3.0: Rebooting American Prosperity in the 21st Century-Why America's Greatest Days Are Yet to Come, published by Encounter Books in June of 2013. Mike is an attorney in Chicago, practicing with the The Howard Law Firm LLC.