Alex MacMillan

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Because each power station is so big and expensive, it has proved impossible to drive down the cost by experiment. Even changing the design halfway through construction is impossible because of the immense regulatory thicket that each design must pass through before construction. You must design the thing in advance and stick to that design or go back to square one. This way of doing things would fail to bring down costs and raise performance in any technology. It would leave computer chips at the 1960 stage. We build nuclear power stations like Egyptian pyramids, as one-off projects. ...more
How Innovation Works: And Why It Flourishes in Freedom
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