In most sectors of the economy, regulation is an inevitable hurdle to doing business. Certain Internet-based businesses, however, have been left alone for long enough to flourish in the hands of enterprising individuals. Jim Epstein is a producer at Reason TV who has been tracking the emergence of the so-called “sharing economy." Epstein joins Bob to discuss, among other things, his new video series telling the stories of people whose personal businesses are thriving with the help of new peer-to-peer information technology. Tech companies like Uber, Lyft, and Airbnb are facilitating leaps and bounds in private value creation. Regulators are having a hard time catching up. Epstein notes that even progressives are finding reasons to oppose regulation in this burgeoning field. Could this be the beginning of a liberal/libertarian alliance? Either way, don’t expect regulators to sit on the sidelines for long!
Elsewhere, in the food industry, regulation is nothing new – but some citizens are starting to demand their freedoms back. Bob discusses the controversy over raw milk, and two proposed bills that could impact its sale in the U.S.