It turns out that experts have bad track records at predicting what will happen. Generalists, on the other hand, who read widely and are constantly adapting to the observations they make, are considerably more savvy. – The Atlantic
Poverty As A Willful Act (So Why Are We Doing It?)
“I concluded from my reading of classical economics that the creation of poverty is as fully intentional as the creation of wealth. Progress is dynamic, self-generating, unpredictable. Poverty is static, effectively resourceless, subject to interests that are not its own, therefore valuable to those interests. Early writers on the subject were unembarrassed by this binary, which is so directly the offspring of serfdom that they took it as natural and inevitable and declared it a law. Subsequent writers have treated it as law indeed.” – Harper’s