Every generation has underestimated the potential for finding new ideas . . . Possibilities do not add up. They multiply.
Growth springs from better recipes, not just from more cooking.
Human material existence is limited by ideas, not stuff, people don't need copper wires they need ways to communicate, oil was a contaminant, then it became a fuel
Possibilities don't add up, they multiply.
Once we admit that there is room for newness - that there are vastly more conceivable possibilities than realized outcomes - we must confront the fact that there is no special logic behind the world we inhabit, no particular justification for why things are the way they are. Any number of arbitrarily small perturbations along the way could have made the world as we know it turn out very differently.
Never waste a crisis.
I am convinced that both markets and free trade are good, but the traditional answer that we give to students to explain why they are good, the one based on perfect competition and Pareto optimality, is becoming untenable. Something much more interesting and more complicated is going on here
In a sense, Britain inadvertently, through its actions in Hong Kong, did more to reduce world poverty than all the aid programs that we've undertaken in the last century.
