“It is the responsibility of government,” the report declares, “to ensure that transformative technologies are used fairly and employed in all areas where they can achieve public good.”
NO! NO! NO! That is not the responsibility of government!
The author is giving the US Government too much credit in saying that it is simply attempting to preserve the status quo. It in fact is attempting to maximize its power at the expense of anything else.
Just looks at FATCA... It is a clear example of poor regulation which attempts to maximize the power of the US government (and is harmful for the US economy, no to mention downright immoral when it comes to privacy). They will always come up with a reason that purports to be a moral reason for establishing regulation, but it is rarely in fact true.
2 issues come to mind.
(1) We make many of our own problems. Were it not that we endow companies -having- great wealth and influence the same rights that we give individuals so that they can be -independent- of entities with great wealth and influence, we wouldn't have to worry so much about the havoc these firms would be likely to cause were they not regulated.
(2) Everything (particularly in the Valley) is called Disruptive when in fact very little is. That which IS authentically Disruptive, however, is seldom if ever hampered by regulation until it becomes a well established industry capable of wreaking undue havoc (such as the 50 years for Edison and perhaps as you mention, for the PC and the internet). The way we know this is that authentically Disruptive technology and innovation begin in industries unrelated to those they are destined to superimpose upon, Bell's intercom system was not hampered by regulations managing telegraphy nor was VOIP hampered by extensive telecommunication regulation.
Authentic Disruptive Innovation is precisely the antidote to both excess regulation and to the limitations posed by demographically bounded markets. Any time the Valley complains about regulation stifling innovation, it isn't Disruptive Innovation they're talking about and their problem isn't excess regulation as much as it is a failure to think sufficiently -different-, as Mr Jobs was known for saying.
Thanks for providing food for thought and Good Luck on your mission,
Manager - Disruptive Innovation Group at LinkedIn