How to make European industrial policy work

The tech policy analyst Adam Thierer elaborates the point: “Several recent studies”, he notes, “have documented the costs associated with the GDPR [General Data Protection Regulation] and the EU’s heavy-handed approach to data flows more generally.” This imposes heavy costs on innovative firms and, inevitably, the smaller the firm, the bigger the implicit tax. Given this, as well as the fragmented EU markets, it is little wonder that the US is so far ahead.