Wednesday, November 23, 2011
Innovation story of the day
Product's use in meth labs shuts down small business. The product itself is legit, but it made me wonder about innovation in illegal businesses: the incentives to innovate come purely from the market (and perhaps from self-help), not law. There's been a lot of research in recent years on innovation in communities unprotected by the law, but I'm not sure I've seen anything on innovation in markets for illegal goods. It would be a great study if you could get the data. I wonder if Sudhir Venkatesh could be convinced?