Lack of 'Regulatory Humility' Hurting Internet, Tech Markets, Says NCTA Chief Powell
Regulation of technology and the Internet -- even regulation invited by some tech companies -- is chipping away at the nation's "historic commitment to innovation without permission," NCTA CEO Michael Powell said in a column posted Monday on CNET. Regulators…
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"do not relish the sidelines" and jump into emerging markets based more often on hypotheticals than actual problems with the market, Powell wrote in his piece, "On the importance of 'regulatory humility.'" The problem is that policies built on predictions and hypothetical scenarios result in "a host of unintended consequences that disrupt markets," Powell said. "Ill-founded regulation is not harmless. Laws are easier to enact than to remove and usually remain long after the past due date. Regulatory agencies simply are not able to adapt quickly to continuing change." The past 20 years has brought "a fast-paced technological age largely free of government control and direction," Powell said. "The next 20 years holds even more promise but only if regulatory humility remains the highest virtue."