Technology Disruption On The Road Ahead — Fasten Your Seat Belts, It’s Going To Be A Bumpy Ride!

Technology Disruption On The Road Ahead — Fasten Your Seat Belts, It’s Going To Be A Bumpy Ride!

An Electric Vehicle charging station in Monterey Park, California on May 18, 2021. - President Joe ... [+] Biden's administration continues the push for alternative forms of transportation and energy and on a visit today to the Ford Motor plant in Dearborn, Michigan, Biden made the case for his $174 billion electric-vehicle proposal, urging automakers not to build zero-emission vehicles abroad for US consumers and touting electric vehicles as the future of the auto industry. (Photo by Frederic J. BROWN / AFP) (Photo by FREDERIC J. BROWN/AFP via Getty Images)

The introduction, scaling, and integration of revolutionary technologies into an economy is a dynamic, inherently disruptive process that both creates and destroys businesses, markets, and jobs. This “creative destruction” is essential for generating the economic growth, productivity, and competitive impact that such technologies can deliver. One thing that can serve as either a brake or accelerator on this process is government policy and regulation.