Pokemon Go represents the best of capitalism

Pokémon Go is actually a great example of this. The game developers and their investors thought that they could make something that customers might like and they took the entrepreneurial risk to create the game without the certainty that it was going to be a success. Obviously, it was a good gamble, but I’m sure that even they are amazed at the results. Imagine if the game development funds had been used to build a couple bowling alleys instead. Wow. What fun.

Think of what would have been lost to society if entrepreneurs didn’t have the funds and the freedom to take that gamble. And their success has spawned a sub-industry of “Poképreneurs” who are selling drinks and providing rides to Pokémon players. Economic growth — and our increased social well-being — depends on this kind of permissionless innovation.

In short, Pokémon Go represents the very best of capitalism because it’s premised on voluntary exchange — no one is forced to download the game, players can stop playing at any time they like, and if they value the special items available in the game store they can buy them to enhance their fun. Furthermore, the entrepreneurs who had the foresight and the guts to dare to make the world a better place are being rewarded for their accomplishment. Most importantly, that success only comes about because they have made people’s lives better in the process. That’s something Team Rocket could never learn to do.