Researchers have fixed the problems with incandescent light bulb

Jeffrey Tucker reports at Foundation for Economic Education,

Researchers at the MIT are publicizing that they have fixed the incandescent lightbulb with a brilliant improvement. They have wrapped the interior filament in a crystal glass that both bounces light and contains heat. It recycles energy in a way that addresses the main complaint against Edison’s bulb: It burns far too much energy for the light that it produces.

Why is this interesting? About a decade ago, governments around the world developed a fetish for banning incandescents (through an efficiency rule) and replacing them with expensive LED technology and florescent bulbs. It happened in Europe first but eventually came to the United States. The last American factory to produce them closed in 2010, and they are ever harder to find in even the big-box hardware stores. (As with all such bans, there are exceptions for elites who desire specialty bulbs.

...As the MIT innovation in lighting suggests, there are possibilities yet undiscovered that regulators have not thought of. If you write detailed regulations about existing technologies, you are forestalling the possibilities that scientists and entrepreneurs will discover new ways of doing things in the future.

A vast regulatory apparatus on cell phone technology in 1990 could never have imagined something like a modern cellphone. Regulations on digital commerce in 2000 might have stopped the rise of peer-to-peer services like Uber. Indeed, one of the reasons that the digital world is so innovative is precisely because the regulators haven’t yet caught up with the pace of innovation.

Regulations on technology freeze the status quo in place and make it permanent. How, for example, will regulations respond to the news that a new and improved form of incandescent bulb is possible? Early tests show it to be more efficient than the replacements which the regulations favor. Will there be a new vote, a rewrite of the law, a governing body that evaluates new lightbulbs, the same way we approach prescription drugs? None of this can possibly match the efficiency of a market process of trial and error, of experimentation, rejection, and adoption.

In government, a ban is a ban, something to be enforced, not tweaked according to new discoveries and approaches.

Herein we see the problems with all attempts by government to tightly manage any technology. Bitcoin is a great example. As soon as the price began to rise and the crypto sector began to appear viable, government agencies got in the business of regulating them as if the sector was already taking a shape that would last forever. And because technology and industry are always on the move, there is never a rational time to intervene with the proclamation “this is how it shall always be.”

Regulatory interventions stop the progress of history by disabling the limitless possibilities of the human imagination.

By the time regulators get around to rethinking the incandescent, the industry will probably have moved on to something new and even better, something no one can imagine could exist today.

Read more here.