Consider two of the innovations that resulted from the Great Depression: government policies to pay farmers not to overproduce certain crops, and deposit insurance and regulations to ensure the health of banks. While we can’t predict all the areas where new public innovations will be needed, we should assume that such needs will arise. Put in this context, our biggest concern perhaps should not be that technology innovation is so fast, but that government action is so slow. Can democratic governments respond to new needs and crises in an era of political gridlock and polarization?
