Summary
In “The Sovereign Individual,” Rees-Mogg and Davidson argue that new technologies have disrupted dominant powers throughout history. They predict the microprocessor will disrupt the nation state, as the printing press disrupted the Church. Bitcoin challenges the monopoly on money held by nation states, but faces challenges such as centralization in hardware production. AI and 3D printers also have the potential to decentralize power. Governments may try to regulate these technologies to maintain control, but decentralized manufacturing could lead to a more decentralized world.
Key Points
1. The book “The Sovereign Individual” argues that throughout history, dominant powers have been disrupted by new technologies such as advances in agriculture, the stirrup, gunpowder, and the printing press.
2. The microprocessor, internet, and public key cryptography are seen as technologies that will disrupt the nation state in the same way the printing press disrupted the Church, according to the authors.
3. The potential for decentralized manufacturing using 3D printers and other “maker” tools could play a significant role in decentralizing power structures related to Bitcoin, AI, and other technologies, but may face pushback from governments seeking to maintain control.