Intelligent Economic Design
America is poised for another debate over whether its economy evolves or is designed, with Barack Obama’s opponents claiming that everything good in America’s economy has always evolved with no guidance, and that everything bad has been designed by government. If they win, America – and the world – will lose.
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BERKELEY – As Stephen Cohen, with whom I wrote The End of Influence: What Happens When Other Countries Have the Money, likes to say, economies do not evolve; they are, rather, intelligently designed. He also likes to say that, though there is an intelligence behind their design, this does not mean that the design is in any sense wise.