Negotiamini Media
Truth is Powerful

Economies Are Much Too Complicated To Plan And Control


This is an opinion editorial by Max Borders, a well-published author and a contributor for Bitcoin Magazine.

Well into the Great Recession, arch-Keynesian Paul Krugman wrote that what drew him to economics was, “ The beauty of pushing a button to solve problems .”

Yet economies don’t have buttons.

Similarly, imagine someone who claimed they could build, fix or run the Great Barrier Reef. You’d be justifiably skeptical. The Great Barrier Reef is one of the most splendid ecosystems on the planet. Its beauty is matched only by its complexity. No one on earth could design, much less control, the array of biological processes that allow the reef’s fractal order to emerge.

If you believe in God’s creation, you’d probably argue that only an omniscient being could build, fix or run the Amazon Rainforest. Why? Humans aren’t smart enough . If you’re an orthodox Darwinian, you’d argue that only the decentralized processes of evolution could give rise to such biodiversity. Why? Humans aren’t smart enough .

Yet, for too long, we have tolerated experts who claim authority over our economies.Sure, economy and ecology are two different domains of inquiry, but economies are like ecosystems in a few important respects: Both economies and ecosystems […]

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