In Power or Empower

If you want a problem to be solved quickly, all the decision makers need to be in one room with no distractions, and intimately involved in doing the work. If you want a problem not to be solved, make those doing the work write memos and get other people around a boardroom to make the decisions based on what is on that paper. There is deep irony in the loss of meaning around the word Capitalism. Adam Smith’s “invisible hand” is effectively a tearing down of the memo factory. Let decisions be made locally by those who they affect. Not in isolated bubbles with oceans between realities. Virginia Postrel vividly describes Tacit Knowledge (the stuff we know but cannot communicate) in the book which completely changed my mind about the desirability of benevolent dictators and central planning (“The Future and its Enemies”). The world is too complicated, ambiguous, and random to concentrate power. The way you build endurance, resilience, and creativity is by creating more decision makers. That means building buffers and engines of capital for everyone. It means letting other people make different decisions to you.