Taylor Barkley, the director of public policy at the Abundance Institute, is a passionate advocate for technological progress as a force for greater human prosperity. His career has included roles at Utah State University's Center for Growth and Opportunity and the Mercatus Center at George Mason University. Now at the Abundance Institute, which launched in April, he works to help emerging technologies reach their full, life-changing potential.

“The Abundance Institute is a mission-driven, nonprofit think tank relentlessly focused on removing barriers that stand in the way of emerging technologies,” Barkley explains. The organization operates in Salt Lake City and Washington, D.C., and focuses mostly on artificial intelligence (AI) and energy technologies. 

“Technological progress has been the centerpiece for improvements in human life and prosperity,” he says. Barkley points to advancements such as lower child mortality rates and the rise of modern conveniences as evidence of technology's impact on human well-being.

Barkley believes that even in a world of finite resources, technology can drive progress. “We’re constantly pushing back against zero-sum thinking,” he says, particularly in the energy sector. 

According to Barkley, advancements in energy production have made it possible to generate more power with fewer resources. Nuclear energy, for instance, holds significant promise.

“We’re excited about new nuclear energy generation,” Barkley says, referring to both large reactors and smaller modular versions. “There is this mentality in our culture that it’s bad to use more energy, but our story is, no, we can have 10 times or 100 times our energy generation,” he says. “In fact, we need to produce more energy if we’re going to have the prosperity levels we want to see.”

For Barkley, access to inexpensive and reliable energy is essential for a strong economy. “History demonstrates this,” he says. “The more an economy grows, and the more individuals become prosperous, energy use increases.” 

He notes that recent trends in the U.S. have shown a decline in energy use even as GDP has grown, but he warns that sustaining prosperity will require significant increases in energy production. “We have the means to do it. We just need to clear away some policy barriers,” he argues. 

Barkley stresses that this is not simply a fossil fuel issue. “Fossil fuels absolutely have a role,” he says, adding that gas is a cleaner option compared to coal. However, he emphasizes the importance of new energy technologies that can provide abundant power with minimal environmental impact.

Protectionism in energy and technology markets is another concern for Barkley. He criticizes the precautionary principle—the idea that new technologies should be proven safe before they are deployed—for its negative impact on innovation. “We’ve had far fewer new nuclear reactors built in the past 30 years because of the Nuclear Regulatory Commission’s emphasis on safety,” he explains. 

While he acknowledges the importance of safety, he warns that excessive caution can lead to higher energy costs and increased reliance on less clean energy sources. 

Barkley draws parallels to the AI sector, noting that Europe’s precautionary approach to AI has stifled innovation there. “What we’re seeing is far fewer AI companies developed in Europe. Some Europeans don’t even have access to the most advanced models because of regulations,” he says. In contrast, the U.S. has benefited from a more open approach to innovation.

The balance between innovation and regulation is a recurring theme in Barkley’s work. He contrasts the challenges faced by the energy sector—where innovation is constrained by infrastructure and regulatory hurdles—with the relatively open landscape of digital technology. “With software, especially with the dawn of the internet, anyone, anywhere in the world has the opportunity to create a billion or trillion-dollar company,” he says. 

Barkley sees this permissionless innovation as a key driver of economic prosperity. And he remains optimistic about the potential for technology to improve lives. “We have the tools and knowledge to create an abundant, prosperous future,” Barkley says. “We just need to remove the barriers that are holding us back.”