Economies Are Much Too Complicated To Plan And Control

Bitcoin Magazine

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.

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