Introduction
It is 2023, and mankind has come a long way in the last century. With the invention of computers, innovations in mobile technology, and strides made in numerous other industries, it is undeniable that mankind has invented the future. However, where is my flying car? Dr. J Storrs asks this question in his lecture and novel, “Where is My Flying Car?” He explores the various political, social, and economic factors that have hindered the steady growth of innovation in technology and science. In this post, I will discuss Hall’s arguments and dive more into the social and economic issues that perpetuate entrepreneurial stagnation.
Economy of Innovation
During the industrial revolution, America experienced an unprecedented period of economic growth. The average man could make a living in modest work, and the American dream seemed fully realized. Houses were built with electric lighting and appliances, and the average family could afford a car. Dr. Hall began his lecture with this ideal image of America in the 1950s and 1960s and continued by talking about the famous cartoon, “The Jetsons.” Hall focused on the principle behind the Jetson’s family car. He described how this image was the average 1960s American’s vision of the future, and the speed of innovation at the time supported this conjecture. In the 1960s, the strides that were being made supported the idea that, in the 2000s, the average American family would own a flying car. Even though the scientists, met that deadline, unfortunately, the economy had not. American politicians and political parties added new regulations and barriers to a wide variety of industries, enforced by the federal government. These regulations and barriers made it difficult for companies and entrepreneurs to create and innovate and significantly slowed the economic growth of America in the early 2000s. Hall emphasizes the idea that the population’s compliance with bureaucracy and other social factors have aided in this decline.
Widening of the Middle-Class
Technology has created hundreds of millions of new opportunities for mankind to invent, make money, and connect globally. However, technology has also made it easier than ever to grow a following and a community. Younger generations have used this opportunity to become “influencers” and “creators” on various online platforms such as Tiktok, Youtube, Instagram, Facebook, etc. Influencers and creators that attract a large enough following can make millions of dollars through brand deals, content creation, and merchandise sales. This has created an entirely new “class of celebrities,” that are best described as B-rated millionaires. In addition to this, technology has allowed actors and talented artists to gain a larger fan base. Celebrities have the ability to double or even triple their fortunes by creating online content. Because of this, the middle and lower classes seem to be expanding. The average millennial and Gen Z American cannot afford to buy a house in today’s housing market, and inflation is not helping with this issue. Although the economic opportunity presented online today can happen to anyone, the odds of becoming famous online are still not great. Hall discussed this issue, stating that flying cars have actually been invented, however, their price tag is way above any normal person’s tax bracket. The technology is here, yet, no one can afford it. Until there is a way that technology can be made using less energy and more automation, the price will never diminish. This was Hall’s proof that, even though the 1960s predictions about innovation were correct, the stagnation of the economy could not support the purchasing of new technology by the time it was created.
Are Regulations Always Bad?
Hall also discussed the government’s intervention in / regulation of production has hindered its efficiency. It is more challenging for Americans to create businesses and enter competitive markets when there are a large number of regulations and permits required, especially when the entrepreneur does not have a large amount of capital. Hall mentioned a few social factors that contributed to the heavy amount of regulation that the government imposes on citizens today. However, he fails to mention one of our country’s most important and tragic moments in history. 9/11 completely changed the way our government handled air travel. Other events like the Oklahoma City Bombing, the 2008 economic crash, the Boston Marathon Bombing, and Sandy Hook have completely changed the rules and regulations around event management and security. Although technology has significantly improved the lives of billions of people, it has also made the world significantly more dangerous. Sometimes, the rules and regulations that the government imposes on Americans are essential to keeping the population safe from tragedy. Sometimes these rules and regulations are an inconvenience, and annoying to deal with, but they help to ensure that no one is taking advantage of a sick opportunity. We may not have flying cars because it is simply too dangerous for everyone to own an aircraft, and air traffic control cannot handle the capacity that flying cars would need to operate. At the end of the day, technology must be researched more before it can be trusted in the hands of anyone and everyone.