Then there's new technology. I have students come to me saying we can do amazing things with genetics. We can actually make cows that emit less methane, a useful thing for New Zealand. But oh no, our medieval and superstitious laws mean as soon as they want to take it out of the lab, they'd be better to take themselves off to California. And you can tell the same story about financial technology. We are so hostile to technologies that would raise our productivity, it's no wonder we are anaemic and lacking in them. This can't be as good as it gets. 