[lilei2]

I don't really follow this:

> First, it confuses technological innovation (impressive to engineers) and economic innovation (valuable to consumers). Second, it confuses gross and net benefit — of course, when government does X, we get more X, but is that more valuable than the Y we could otherwise have had?

[...]

> And don’t forget Bitcoin and the underlying blockchain technology that has the potential to decentralize everything from web apps to logistics.

The latter here seems like a rather good example of the former. EU is about to introduces the revised payment services directive (PSD2) which is set to force banks to interface with third parties. I would expect this action to have far greater value to people than the blockchain.