For all our lives, there has been some background discussion of “UFOs”. It turns out that the simple fact is that at any given moment, there are thousands of “unidentified objects” data collection balloons in the sky above us. Some additional unidentified objects up there are apparently not balloons but something that some in our government or military do not know about. The discussion in the news today has now turned to what specific U.S. government agencies do not know. Some credible government spokespeople say they do not know of the existence of technology that other credible private industry sources say does exist.
Much of our economic growth in recent decades has been in fields where you don’t get government permissions. Think internet data, social media, cryptocurrency, non-automobile motorized vehicles on roads, delivery drones, ADUs, etc. No doubt for me that other aerial objects fall in this category.
Given the difficulty obtaining consensus and approval from government, this is not surprising. In fact, an increasing number of the management of the companies I work for have adapted policies to only pursue projects that can be done without a government permit.
In this context, it is easy to see how friction created by government process leads to a lack of information flow throughout the economy.