Sublime

the big issue is lots of available money and not enough opportunities to invest in things that create wealth.

The U.S. geopolitical leadership has shown two faces to the world. One was the U.S. interest in building law-based multilateral institutions, including the global institutions of the UN system and regional institutions such as the European Community (and later European Union), of which the United States was a champion from the start. The other was

However, he continues, over the last 50 years the need for people to be “legible” and fit into a standard model of work has merely become “industrially preferable.” This puts government and institutional leaders in a position where they are incentivized to convince people that following rigid paths in their institutions is the correct path for ever

The New Deal was a transfer of power from the man in the street to the man from the Harvard Law Review.

The federal government has become the domain of hedgehogs, urgently needed people but profoundly insufficient. It is wisdom that is lacking, and there is no civil service code for the wise.

foundations were laid in Victorian times. Now it is changing radically. Standard economics is suddenly being challenged by a number of new approaches: behavioral economics, neuroeconomics, new institutional economics. One of the new approaches came to life at the Santa Fe Institute: complexity economics.